In Which of the Following Ways Is a Monopolistically Competitive

question 92

Multiple Choice

In which of the following ways is a monopolistically competitive firm like a perfectly competitive firm?

• A) Short-run economic profits are always positive.
• B) Short-run economic profits may be positive, negative, or zero.
• C) Long-run economic profits are negative.
• D) Long-run economic profits are positive.

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Definitions:

Frontal

Pertaining to the front part of the brain, involved in decision making, problem solving, and controlling behavior.

Autonomic Nervous System

Part of the peripheral nervous system that controls involuntary body functions, such as heart rate, digestion, and respiratory rate.

Sympathetic

Relates to the part of the autonomic nervous system that prepares the body for intense physical activity and is often referred to as the fight-or-flight response.

Parasympathetic

Part of the autonomic nervous system responsible for relaxing the body and conserving energy.