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If in Monopolistic Competition in the Short Run, Firms Make

question 27

Multiple Choice

If in monopolistic competition in the short run, firms make ________ profits, then in the long run, new firms will enter the market. The ________ each individual firm's product will ________. In the new long-run equilibrium firms will make ________ profit.


Definitions:

Peripheral Route Persuasion

A method of persuasion that relies on superficial cues or aspects, such as the attractiveness of the speaker, rather than logical arguments.

Central Route Persuasion

A method of persuasion that involves deeply processing the content of a message, leading to long-lasting attitude change.

Cognitive Dissonance

A psychological state where a person experiences discomfort or distress from holding two or more conflicting beliefs, values, or attitudes simultaneously.

Role Playing

A teaching or training method that involves acting out roles in specific scenarios to practice behaviors or explore complex situations.

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