Consider a Monopolistically Competitive Industry Which Is in Long-Run Equilibrium

question 136

Multiple Choice

Consider a monopolistically competitive industry which is in long-run equilibrium.Which of the following is true?

• A)All firms charge a price equal to average total cost.
• B)All firms charge a price equal to marginal cost.
• C)All firms make an economic profit.
• D)The demand,average total cost,and marginal cost curves all intersect at the same point.
• E)Firms have an incentive to enter the industry.

Grasp the concept and implications of loan collateralization and the responsibilities of borrowing and lending parties.

Master the process of recognizing and recording sales and interest income on notes receivable.

Identify the signs and implications of aggressive or conservative revenue recognition policies on financial statements.

Understand the concepts of factoring, securitization, and their financial impact.

---

Definitions:

Ecology

The branch of biology that studies the relationships between organisms and their environments.

Social Structure

The organized pattern of social relationships and social institutions that together comprise society.

Ideology

A system of ideas and ideals, especially one that forms the basis of economic or political theory and policy.

Crescive Norms

Unwritten, societal rules and behaviors that are learned implicitly through everyday social interactions.