Which of the Following Is Characteristics Is Common to Both

question 18

Multiple Choice

Which of the following is characteristics is common to both monoply and monopolistic competition?

• A) Ease of entry into the industry.
• B) Firms are price setters.
• C) A relatively large number of sellers.
• D) Long-run economic profit equals 0.

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Definitions:

Computer Program

A set of instructions written in a programming language that is executed by a computer to perform a specific task or solve problems.

Hardware

The physical components of a computer or electronic system, such as processors, memory devices, and input/output interfaces.

Server

A computer system that provides data, resources, or services to other computers, known as clients, over a network.

Network

A group of interconnected devices that can communicate and share data with each other.