<u>Answer:</u>
The statement that in the long run the demand curve will shift to the left until price equals average total cost and economic profit increases is not true.
Option: (I)
<u>Explanation:</u>
- In monopolistic competition, the demand for the commodity that is manufactured often remains constant, or at instances, increases as the manufacturer is the only player producing the commodity in that particular segment, or of that particular brand, or of that particular quality.
- These manufacturers often sell their products at costs more than the marginal costs by taking advantage of the monopolistic competition in place.
Answer:
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The answers are:
Reagan won by a landslide.
Republicans gained control of the Senate.
Conservatives called this the “Reagan Revolution.”
Ronald Reagan won the 1980 election by a landslide victory, winning over 50 percent of the vote and 489 of the electoral votes, to Jimmy Carter, his biggest opponent, which captured 41 percent of the votes and only 49 of the electeral votes.
This victory, not only led Reagan to enter The White House, but also made the Democrats lost the Senate for the first time since 1954, and the Republicans won the majority of seats.
Reagan's administration had a big impact in American history, in terms of policies regarding taxes, welfare, the federal judiciary, the Cold War, foreign and domestic affairs, etc. leading some politicians, historians, and conservatives to call it “Reagan Revolution”.
<span>Both industries need to become more customer-focused. Though their focus on profits is understandable, the decline in profits will continue if consumers see that the product they are receiving is lackluster. People drive or take buses or trains more often than they fly because flying has become so inconvenient and expensive. People hold on to cars well past their expiration dates because cars are so expensive and car salesmen are too pushy.</span>
