For each of the following characteristics, say whether it describes a monopoly firm, a monopolistically competitive firm, both, or neither. (note: if the characteristic describes neither, leave the entire row unchecked.)

characteristic

monopoly

monopolistically competitive

faces the entry of new firms selling similar products
produces at the minimum of average total cost in the long run
equates marginal revenue and marginal cost
has marginal revenue less than price
faces a horizontal demand curve
earns economic profit in the long run

Your grandmother told you a dollar doesn't go as far as it used to. she says the purchasing power of a dollar is much lesser than it used to be. explain what she means. try and use and explain terms like inflation and deflation in your answer.

Amajor advantage of case studies is

Google started as one of many internet search engines, amazon started as an online book seller, and ebay began as a site where people could sell used personal items in auctions. these firms have grown to be so large and dominant that they are facing antitrust scrutiny from competition regulators in the us and elsewhere. did these online giants grow by fairly beating competition, or did they use unfair advantages? are there any clouds on the horizon for these firms -- could they face diseconomies of scale or diseconomies of scope as they continue to grow? if so, what factors may limit their continued growth?