A grocery store should close at night if the ?

A. variable costs of staying open are less than the total revenue due to staying open.
B. total costs of staying open are less than the total revenue due to staying open
C. variable costs of staying open are greater than the total revenue due to staying open
D. total costs of staying open are greater than the total revenue due to staying open

In monopolistic competition ?

A. Firms face a perfectly elastic demand curve
B. All products are homogeneous
C. Firms make normal profits in the long run
D. There are barriers to entry to prevent entry

If the long-run market supply curve for a good is perfectly elastic, an increase in the demand for that good will, in the long run, cause ?

A. an increase in the number of firms in the market but no increase in the price of the good
B. an increase the price of the good and an increase in the number of firms in the market
C. an increase the price of the good but no increase in the number of firms in the market
D. no impact on either the price of the good or the number of firms in the market

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