In the model of monopolistic competition, there can be short-run:. a. losses or profits, but there must be profits in long-run equilibrium.
b. profits, but there must be losses in long-run equilibrium.
c. losses or profits, but there must be losses in long-run equilibrium.
d. losses or profits, but there must be neither profits nor losses in long-run equilibrium.
e. losses, but there must be profits in long-run equilibrium.

Abank provides its customers mobile applications that significantly simplify traditional banking activities. for example, a customer can use a smartphone to take a picture of a check and electronically deposit into an account. this unique service demonstrates the bank’s desire to practice which one of porter’s strategies?

Varto company has 9,400 units of its sole product in inventory that it produced last year at a cost of $23 each. this year’s model is superior to last year’s, and the 9,400 units cannot be sold at last year’s regular selling price of $42 each. varto has two alternatives for these items: (1) they can be sold to a wholesaler for $8 each, or (2) they can be reworked at a cost of $251,100 and then sold for $34 each. prepare an analysis to determine whether varto should sell the products as is or rework them and then sell them.

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