If There Are Economic Profits in a Monopolistically Competitive Industry,they

question 25

Multiple Choice

If there are economic profits in a monopolistically competitive industry,they will generally be competed away through the

• A)introduction of brand name products by existing firms.
• B)entry of new firms.
• C)increasing advertising budgets of existing firms.
• D)manipulation of the demand curve.
• E)exit of existing firms.

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Definitions:

Ethical Communication

The practice of exchanging information in a truthful, fair, and respectful manner.

Motives

The underlying reasons or drives behind an individual's actions or behavior.

Buffering Strategy

A tactic used in communication to soften the impact of negative news or information by preceding it with positive or neutral statements.

Complimenting The Receiver

Offering praise or positive feedback to the person receiving a message or communication.