In the Long Run, New Firms Will Enter a Monopolistic

question 111

Multiple Choice

In the long run, new firms will enter a monopolistic competitive industry until

• A)minimum average total cost is achieved.
• B)all firms are incurring losses.
• C)economic profits in the industry are zero.
• D)a and b

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Definitions:

Basically Destructive

This term is not recognized as a standard psychological or medical key-term, hence it might refer to actions or behaviors fundamentally harmful in nature. NO.

Objective Events

Situations or occurrences that exist independently of personal feelings, opinions, or biases.

Positive Social

Refers to behaviors or interactions that have beneficial impacts on individuals or communities, fostering well-being and supportive relationships.

Predict

To declare or indicate in advance; especially to infer future events or outcomes based on current or past information.