Which of the Following Market Structures Is (Are)capable of Earning

question 106

Multiple Choice

Which of the following market structures is (are) capable of earning positive economic profits in the long run?

• A) monopoly
• B) oligopoly
• C) monopolistic competition
• D) Both A and B.

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Definitions:

Components

Parts or elements that make up a larger product or system.

Customer's Specifications

These are detailed requirements provided by the customer regarding the design, functionality, and performance of a product or service.

Distribution Center

A specialized warehouse designed to store goods, often in bulk, before they are distributed to retailers or customers.

Time Utility

The increase in the value of a product or service by having it available at the most opportune time, enhancing satisfaction or usefulness.