Q1. When a firm is earning positive economic profits in a monopolistic competitive market, what will most likely occur? A) New firms will enter driving down the economic profits to zero. B) Losses will occur in the short run. C) Price takers will be over run by price searchers.
Q2. In the short run, price searchers maximize profits by producing output where marginal revenue (MR): A) equals marginal costs (MC) and charging a price based on the demand curve. B) equals marginal costs (MC) and charging a price based on the average total cost (ATC) curve. C) is greater than marginal costs (MC) and charging a price based on the demand curve.
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发表于 2009-1-15 10:15
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