Which of the Following Is FALSE Regarding the Long Run

question 292

Multiple Choice

Which of the following is FALSE regarding the long run for a firm in monopolistic competition?

• A) The firm's economic profit equals zero.
• B) Marginal cost equals average total cost.
• C) Price exceeds marginal cost.
• D) Price equals average total cost.

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Definitions:

Brand

A name, term, symbol, design, or combination of these elements that clearly identifies and differentiates your products from those of your competitors.

Copyright

A legal right granted to creators of original works, providing protection from unauthorized use, copying, or distribution of their material.

Business Tax Returns

Official documents filed with a government body, detailing a business's income, expenses, and taxes owed for a specific fiscal period.

Sole Proprietorships

A business structure where a single individual owns and runs the business, responsible for all its debts and liabilities.