A Monopolistically Competitive Firm and a Monopoly Are Similar Because

question 80

Multiple Choice

A monopolistically competitive firm and a monopoly are similar because

• A) both firms always operate at their point of minimum average total cost.
• B) both firms must behave strategically toward other firms in the industry.
• C) each firm can raise its price without losing all of its sales.
• D) each firm has a large number of small competitors.
• E) both firms will earn zero profits in the long run.

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Definitions:

Palisade Mesophyll

The layer of vertically elongated cells found in the leaves of plants, rich in chloroplasts, where most photosynthesis occurs.

Spongy Mesophyll

A layer of loosely arranged, irregularly shaped cells in the leaf, allowing for gas exchange and containing chloroplasts for photosynthesis.

Chloroplasts

Organelles found in plant cells and other eukaryotic organisms that conduct photosynthesis, capturing light energy to produce ATP and reduce NADP to NADPH.

Apical Meristem

Meristem in the tip of a shoot or root; gives rise to primary growth (lengthening) in plants.