Which of the Following Is True Regarding the Long Run

question 306

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) There are barriers to entry.
• C) Price exceeds average total cost.
• D) Marginal revenue is less than marginal cost.

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Definitions:

Video

Moving visual media that can be recorded, streamed, or played back for the purpose of entertainment, education, or communication.

Single Business Plan

A strategic document outlining the operational and financial objectives of a business, and detailed plans and budgets showing how the objectives are to be realized.

Audiences

Groups of people who gather to watch, listen to, or read something, often targeted by media, performances, or written works.

Planning

A process of envisioning the future for a business, including what one plans to do and how one plans to do it.