Monopolies Can ________ in the Long Run While Monopolistically Competitive

question 15

Multiple Choice

Monopolies can ________ in the long run while monopolistically competitive firms ________ due to barriers to entry in monopoly but not in monopolistic competition.

• A) break even; cannot
• B) earn positive economic profits; cannot
• C) only break even; can only earn positive economic profits
• D) can never shut down; can

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Definitions:

Effective Decision-Making Strategies

Approaches and techniques that enhance the quality and outcomes of decisions, taking into account various factors and potential impacts.

Shared Information Bias

The tendency for group members to spend more time and emphasis discussing information that all members are already familiar with, rather than focusing on unshared, unique information.

Self-Censorship

The act of censoring or withholding one's opinions, feelings, or concerns, especially in a group setting, due to anticipated negative response or judgement from others.

Atmosphere of Unanimity

A situation in decision-making groups where a consensus is assumed or imposed, and dissenting views are minimized or ignored, potentially leading to poor decisions.