In the long run under monopolistic competition, when firms advertise, they can earn positive economic profit by increasing market share. ( )
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If the price elasticity of supply equals zero, this implies that the supply curve is perfectly vertical. ( )
When the minimum wage is set below the equilibrium market wage, the unemployment rate will rise. ( )
Taxes levied directly on consumers always hurt consumers rather than producers. ( )
Deadweight loss measures the difference between two efficient situations. ( )