The short run, as economists use the phrase, in characterized by ?

Profit Maximizing Under Perfect Competition And Monopoly 07/12/2021

A. at least one fixed factor of production and firms neither leaving nor entering the industry.
B. no variable inputs – that is, all of the factors of production are fixed
C. all inputs being variable
D. a period where the law of diminishing returns does not hold

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    When ________ substitutes exist, a monopolist has ________ power to raise price?
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    The long-run equilibrium outcomes in monopolistic competition and perfect competition are similar because in both market structures ?
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    Diminishing marginal return implies ?
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    A price- and quantity-fixing agreement is known as?
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