If a Monopolistically Competitive Firm Is Producing 9,000 Units of Output

question 124

Multiple Choice

If a monopolistically competitive firm is producing 9,000 units of output and at this output level, the price is $10 and the average total cost is $10, the firm profit/loss is equal to _______ and it ______possible for the firm to be in long- run equilibrium.

• A)$0; is
• B)$0; is not
• C)$900; is
• D)$900; is not

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Definitions:

Competitive Advantage

The attributes that allow an organization to outperform its competitors, including cost structure, product offerings, market positioning, and customer service.

Skills and Technologies

The abilities and knowledge that individuals have, along with the tools and machines they use, to perform specific tasks or solve problems.

Competencies

A set of defined skills, knowledge, abilities, and attributes that are needed to perform a job effectively.

Strategic Focus

Emphasizes the long-term planning and prioritization of resources and activities towards achieving overarching goals and objectives in an organization.