In the Long Run, a Monopolistically Competitive Firm ________ Make

question 258

Multiple Choice

In the long run, a monopolistically competitive firm ________ make an economic profit and a monopoly ________ make an economic profit.

• A) can; can
• B) can; cannot
• C) cannot; can
• D) cannot; cannot

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Definitions:

Aptitudes

Refers to natural talents or abilities that enable individuals to perform certain tasks effectively.

Competencies

A combination of knowledge, skills, abilities, and other characteristics that enable individuals to perform a job effectively.

Skills

The ability to perform tasks and solve problems due to knowledge, practice, and aptitude.

Motivation

The internal drive or factors that prompt individuals to take action towards achieving a goal, influenced by a combination of intrinsic and extrinsic factors.