Q4. Answer the following questions: a. Why do economists regard normal profit as a cost? b. Explain the innovation theory of profit. c. Is McDonald's a monopolistic competition?
Q4. Answer the following questions: a. Why do economists regard normal profit as a cost? b. Explain the innovation theory of profit. c. Is McDonald's a monopolistic competition?
Chapter9: Monopolistic Competition And Oligoply
Section: Chapter Questions
Problem 8SQ
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