Profit-Maximizing,monopolistically Competitive Firms

question 166

Multiple Choice

Profit-maximizing,monopolistically competitive firms

• A) are guaranteed an economic profit in the short run.
• B) never lose money.
• C) produce only those goods for which they can acquire a barrier to entry,such as a patent (hence the term "monopolistically").
• D) necessarily earn long-run economic profits.
• E) cannot be guaranteed an economic profit in any period and might incur losses.

---

Definitions:

New Alleles

New alleles are variations of genes that arise through mutations, providing a source for genetic diversity within populations.

Mutation

A permanent alteration in the DNA sequence of a gene, which can lead to differences in physical traits or impact health.

Founder Effect

A genetic phenomenon that occurs when a new population is established by a very small number of individuals, leading to a reduction in genetic variation and possible drift in allele frequencies.

Population

A group of individuals of the same species that live in the same area and have the potential of interbreeding.