Which of the Following Is NOT a Characteristic of Monopolistic

question 134

Multiple Choice

Which of the following is NOT a characteristic of monopolistic competition?

• A) There is easy entry and exit.
• B) Firms may make an economic profit in the short run.
• C) There is product differentiation in the market.
• D) Firms set the price of their product equal to their marginal cost.

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Definitions:

Terror Management Theory

A psychological concept suggesting that a primary motive of human behavior is to manage the fear of death by pursuing self-esteem and faith in one's worldview.

Evolutionary Theory

A scientific theory explaining the process by which species undergo genetic changes over generations, leading to diversity of life.

Evolutionary Perspective

A theoretical approach that explains psychological traits as adaptations that have evolved to solve recurrent problems in human ancestral environments.

Triangular Theory

A theory, often related to love, that proposes three components (intimacy, passion, and commitment) are necessary for complete love.