In the Long Run, a Firm in a Monopolistically Competitive

question 47

Multiple Choice

In the long run, a firm in a monopolistically competitive industry produces where its marginal cost

• A) is less than its average cost.
• B) equals its price.
• C) equals its average cost.
• D) exceeds its average cost.

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Definitions:

Cross-border Flow

Movements of goods, services, capital, and people across international borders.

Migrating

The act of moving from one region, place, or country to another, often for work or better living conditions.

Consultation Rights

Rights that allow employees or their representatives to be consulted on workplace matters affecting them before decisions are made.

European Works Council

A workforce consultation body set up in multinational companies operating within the European Economic Area (EEA) for the purpose of informing and consulting employees on transnational issues affecting them.