In monopolistic competition of firms are making abnormal profit other firms will enter and ?

For a competitive firm, its short run supply curve is ______ and its long run supply curve is _____?

A. SMC, LMC

B. SMC above SAVC, LMC above LAC

C. SMC below SAVC, LMC above LAC

D. SMC below SAVC, LMC bellow LAC

In the short run a firm will produce zero output if ?

A. price is greater than short run average total cost

B. price is between short run average total cost and short run average variable cost

C. price is less than short run average variable cost

D. profit is zero

Short run average total costs are equals to the sum of ____ and _____?

A. Short run opportunity costs, profit

B. Short run variable costs, profit

C. Short run average variable costs, profit

D. Short run average variable costs, profit run average fixed costs

When average cost is falling marginal cost is ________ and when average cost is rising marginal cost is?

A. greater than average cost, greater than average cost

B. less than average cost, greater than average cost

C. less than average cost, less than average cost

D. greater than average cost, less than average cost

If a long run average cost curve is falling form left to right this is an example of ?

A. increasing returns to scale

B. decreasing returns to scale

C. constant returns to scale

D. the minimum efficient scale