Which of the Following Is True About a Monopolistically Competitive

question 123

Multiple Choice

Which of the following is true about a monopolistically competitive firm in the long run?

• A)It is as efficient as a purely competitive firm.
• B)It tends to realize only a normal profit.
• C)It produces at the level where costs are minimized.
• D)It will practice marginal cost pricing.

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Definitions:

Genetic Program

The set of instructions encoded in the DNA of an organism that directs the development, functioning, and reproduction of that organism.

Developmental Norm

A benchmark in child development that outlines typical milestones or behaviors at various ages.

Achieves

Accomplishes or succeeds in bringing about a desired result or reaching a target.

Deformities

Abnormalities in the form or shape of a part of the body, often resulting from genetic factors, trauma, or disease.