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:

Reward System

A structured plan designed to motivate and recognize employees' performance, often including financial and non-financial rewards.

Persistence

The ability to continue steadfastly or firmly in some purpose, course, or task, despite difficulties or obstacles.

Direction of Attention

The management and focus of cognitive resources on specific stimuli while ignoring others, crucial for effective task performance.

Efforts

Initiatives or exertions of physical or mental energy towards achieving specific objectives.