-In the Long Run in Monopolistic Competition, Firms

question 54

Multiple Choice

-In the long run in monopolistic competition, firms

• A) make zero economic profit.
• B) shut down if they are making zero economic profit.
• C) incur an economic loss.
• D) make either an economic profit or zero economic profit.
• E) can make an economic profit.

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Definitions:

Administrative Agencies

Governmental bodies responsible for the oversight and administration of specific functions, such as regulation and enforcement of laws and policies.

Specific Regulations

Regulations that are precisely defined or targeted towards a specific area or sector.

Office of Management

A government entity responsible for the administrative management of federal agencies, often involved in budgeting, policy development, and oversight.

Federal Budget

A financial document used by a nation's government, outlining its revenue and spending for a forthcoming fiscal year.