When a Monopolistically Competitive Industry Is in Long-Run Equilibrium,the Excess

question 7

Multiple Choice

When a monopolistically competitive industry is in long-run equilibrium,the excess capacity in an individual firm is indicated by the difference between

• A)price and marginal cost.
• B)the output at which ATC is at a minimum and the output at which price equals marginal cost.
• C)zero and the output at which the demand curve is tangent to the ATC curve.
• D)price and average cost.
• E)the output at which ATC is at a minimum and the output at which marginal revenue is equal to marginal cost.

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Definitions:

Organizational Cultures

The shared values, beliefs, traditions, and practices that influence the way members of an organization interact with each other and approach their work.

Collective

A group or assembly of individuals that share common interests or goals, often working together towards a mutual objective.

Emotionally Charged

Referring to situations or topics that evoke strong feelings or emotional responses.

Organization

A structured group of people with a common goal, such as a business, government department, or charity.