Econ 201 exam 2 Study guides, Class notes & Summaries
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ECON 101 Final Exam A+
- Exam (elaborations) • 8 pages • 2020
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ECON 101 Final Exam A 

Part 1 of 1 -

99.99999 Points

 

Question 1 of 20

4.45 Points

The representative firm in a purely competitive industry:

 

 A.Will always earn a profit in the short run

 B.May earn either an economic profit or a loss in the long run

 C.Will always earn an economic profit in the long run

 D.Will earn an economic profit of zero in the long run

 

 

Question 2 of 20

4.45 Points

An example of a monopolistically competitive industry would be:

 

 A.Steel

 B.Soybe...
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