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jadewasp784Lv1
1 Sep 2018
If short-run economic profits are greater than zero for firms in a monopolistically competitive market, in the long-run, we expect:
A) entry barriers to prevent competing firms from entering this market.
B) profits to increase.
C) competing firms to enter the market and sell similar products.
D) the demand curve for firms in the market to shift to the right.
If short-run economic profits are greater than zero for firms in a monopolistically competitive market, in the long-run, we expect:
A) entry barriers to prevent competing firms from entering this market.
B) profits to increase.
C) competing firms to enter the market and sell similar products.
D) the demand curve for firms in the market to shift to the right.
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2 Jun 2021