True/False. Explain. In the long run as new firms ever the monopolistically competitive industry, the profit of the existing firms is driven down to zero. Thus, monopolistically competitive industries are efficient in the long run.

you get a crown by getting lots of points and you get points by answering other peoples questions

you can put this in your 11 sentence summary

" most of the money would be invested in innovation, economic convergence."

answerindustrial revolution;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.