Which of the Following Statements Is False

question 159

Multiple Choice

Which of the following statements is false?

• A)Like a competitive firm, a monopolistically competitive firm makes a normal profit in the long run.
• B)Monopoly and competition are alike in that there is little or no product variety in either type of market.
• C)Monopoly and monopolistic competition result in average total cost above the minimum.
• D)Monopolistic competition and competition both produce a variety of products as a result of many firms.
• E)A monopoly and a monopolistically competitive firm both result in a deadweight loss.

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Definitions:

Theory

A set of principles or explanations that accounts for observed phenomena and predicts future events.

Descriptive Notes

The primary, detailed records of the human interactions, language, and settings that are the focus of an ethnography.

Ethnographer

A researcher who studies cultures and people by immersing themselves in the environment, observing, and often participating in their subjects' lives.

Data Gather

The process of collecting information and facts for the purpose of analysis to support decision-making and research conclusions.