Fuzzy Feet is a monopolistically competitive firm that faces the following demand schedule for its socks. The firm has a fixed cost of $10 and a constant zero marginal cost. In the long run, what is the likely outcome for Fuzzy Feet? Other firms will leave the market, making it more profitable for this firm. Fuzzy Feet will operate at its full capacity achieving it most efficient scale. More firms will enter the market but the price for the good will not change. The firm should expect the demand curve to shift to the left.

This problem has been solved! see the answerwhich of the following statements is correct? the consumer price index is a measure of the overall level of prices, whereas the gdp deflator is not a measure of the overall level of prices. if, in the year 2011, the consumer price index has a value of 123.50, then the inflation rate for 2011 must be 23.50 percent. compared to the gdp deflator, the consumer price index is the more common gauge of inflation. the consumer price index and the gdp deflator reflect the goods and services bought by consumers equally well.