Short-Run Equilibrium in Monopolistic Competition and in Monopoly Differs Because

question 133

True/False

Short-run equilibrium in monopolistic competition and in monopoly differs because the monopolistic competitor can make losses in the short run, while in a monopoly, profits will always be zero or positive.True

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Definitions:

Vibrating

A process or state characterized by rapid oscillations or movements back and forth or up and down, often at a relatively fixed frequency.

Resistance Start Induction-run Motor

A type of single-phase induction motor that uses an external resistor to increase starting torque, which is removed once the motor reaches a certain speed.

Start Winding

The winding of a split-phase motor that is connected out of phase with the run winding to produce a rotating magnetic field.

Centrifugal Switch

A switch sensitive to the speed of rotation, generally used to disconnect the start windings of a split-phase motor.