Which of the Following Is NOT a Characteristic of Long-Run

question 1

Multiple Choice

Which of the following is NOT a characteristic of long-run equilibrium in monopolistic competition?

• A) Price exceeds marginal revenue.
• B) The firm makes zero economic profit.
• C) Production occurs at minimum average total cost.
• D) Price is equal to average total cost.
• E) Marginal revenue is equal to marginal cost.

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Definitions:

Bats

The only mammals capable of sustained flight, known for their echolocation ability, which they use to navigate and find food in the dark.

Causes of Extinction

Factors such as habitat destruction, overexploitation, climate change, pollution, and the introduction of invasive species that lead to the disappearance of species from the Earth.

Biodiversity

The variety and variability of life on Earth, encompassing the diversity of species, their genes, and the ecosystems they inhabit.

Ecotourism

A form of sustainable travel to natural areas, focusing on conserving the environment and improving the well-being of the local people.