In Its Long-Run Equilibrium, a Firm in Monopolistic Competition

question 147

Multiple Choice

In its long-run equilibrium, a firm in monopolistic competition

• A) makes zero economic profit and operates with excess capacity.
• B) makes zero economic profit and produces above capacity output.
• C) makes a positive economic profit and operates with excess capacity.
• D) makes a positive economic profit and produces above capacity output.

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Definitions:

More Formal

Refers to a style or manner that is characterized by a greater adherence to traditional standards and rules of etiquette, often used in specific contexts or communications.

Clothing

Items worn on the body, usually made from fabric or textiles.

Interviewer

An individual who asks questions or conducts an interview, typically for the purpose of gathering information or assessing qualifications.

Scheduled Time

A predetermined or planned period when an event or activity is intended to take place.