Total Number of Calls, Days Worked, Calls to Prospects Are

question 65

Multiple Choice

Total number of calls, days worked, calls to prospects are measures of:

• A) Output
• B) Effort expended
• C) Sales revenue
• D) Account servicing
• E) All of the above

Identify the conditions under which a monopolistically competitive firm can earn zero, positive, or negative profits.

Understand the concept of imperfect competition and its variants, including monopolistic competition and oligopoly.

Understand the concept of product-variety and business-stealing externalities in monopolistic competition.

Recognize the characteristics of long-run equilibrium in monopolistically competitive markets, including price, average total cost, and marginal cost relations.