The force that leads to zero economic profits for monopolistically competitive firms in the long run is

a. excess capacity.

b. price wars among firms.

c. entry by new firms.

d. excessive advertising.

1. How is real GDP different from GDP? A. Real GDP takes inflation into account. B. GDP takes inflation into account. C. Real GDP uses utility rather than dollars as a unit of measurement. D. GDP only uses dollars as a measurement.

The most efficient combination of resources in producing a given output is the combination that: a) comes closest to using the same quantities of land, labor, capital, and entrepreneurial ability. b) minimize the cost per unit of output.

Strong corporations that expand to the extent that they greatly reduce competition are called: partnerships big 4 monopolies stock companies

Which of the following statements is true? a. The cost of goods sold budget is prepared before the direct labor and overhead budgets. b. Service firms need not prepare a master budget. c.

Define accounting in your worlds

Which education and qualifications are especially useful for Food Products and Processing Systems careers? Check all that apply.

Marks Corporation's balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 47 $ 37 Accounts receivable 53 57 Inventory 63 60 Property, plant, and equipment 548 440 Less accumulated

What happens to prices and wages during an expansion?

Suppose that the equilibrium price of greeting cards declined at the same time the equilibrium quantity of greeting cards increased. Which one of the following would most likely be responsible? a.

You plan to borrow $ 2 comma 000 from a bank. In exchange for $ 2 comma 000 today, you promise to pay $ 2 comma 100 in one year. What does the cash flow timeline look like from your perspective? What does it look like from the bank's perspective?