Which Statement Is TRUE

question 206

Multiple Choice

Which statement is TRUE?

• A)All markets should be oligopolies because that is the most efficient market structure.
• B)Monopolistic competition results in excess capacity since,in the long run,the point where MR = MC is to the right of the minimum of the ATC curve.
• C)In monopolistic competition,firms earn large economic profits in the long run.
• D)In monopolistic competition,firms earn zero economic profits in the long run.

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Definitions:

Equipment Scrapped

The disposal of assets, specifically industrial or manufacturing equipment, that are no longer useful and cannot be sold, often involving removal from the company's books and physical premises.