Which of the Following Is True Regarding the Long Run

question 281

Multiple Choice

Which of the following is true regarding the long run for a firm in monopolistic competition?

• A) The firm's economic profit equals zero.
• B) Marginal revenue equals marginal cost.
• C) Price exceeds marginal cost.
• D) All of the above are true.

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Definitions:

Excess Water Removal

The process by which organisms eliminate surplus water to maintain fluid balance, often involving specific organs like kidneys in humans.

Protists

A diverse group of eukaryotic microorganisms, which are neither plants, animals, nor fungi, and may be unicellular or multicellular.

Free-Living

Describes organisms that do not depend on another organism for survival; they are not parasitic and can exist independently in an environment.

Aquatic

Pertaining to water; living or occurring in water, whether it be freshwater, brackish, or saltwater.