Which One of the Following Characteristics Is Shared by Perfect

question 75

Multiple Choice

Which one of the following characteristics is shared by perfect competition and monopolistic competition?

• A)Firms face a downward-sloping demand curve.
• B)Profit-maximizing quantity occurs where MC = MR.
• C)Long-run equilibrium price equals minimum ATC.
• D)Firms make an economic profit in the long run.
• E)None of the above.

---

Definitions:

Sedition Act

A law enacted by the U.S. government in 1918 and earlier versions, making it a crime to write, publish, or speak against the government or war effort.

Free Speech

The right to express one's opinions without censorship, restraint, or legal penalty, protected under the First Amendment of the U.S. Constitution.

Nineteenth Amendment

Ratified in 1920, this amendment to the United States Constitution granted women the right to vote, signifying a crucial milestone in the women's suffrage movement.

Suffragists

Individuals, particularly women, who advocated for the extension of the right to vote (suffrage) to populations that were previously excluded, primarily focusing on women's suffrage.