A Firm in a Monopolistically Competitive Market Makes No Economic

question 134

Multiple Choice

A firm in a monopolistically competitive market makes no economic profit in the long run because

• A)long-run marginal cost will be too high to make any economic profit.
• B)long-run price will be equal to long-run marginal cost.
• C)long-run marginal cost will be equal to long-run marginal revenue.
• D)long-run price will be equal to long-run average cost.

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Definitions:

Cause-Related Marketing

A marketing strategy where businesses partner with non-profit organizations or causes to market a product or service with the aim of benefiting both parties.

Charitable Giving

The act of donating money, goods, or time to nonprofit organizations or causes in order to help others or support societal welfare.

Sponsorship

Involves providing funds for a sporting or cultural event in exchange for a direct association with the event.

Consumer Rights

Legal entitlements that protect buyers of goods and services, ensuring they are treated fairly and safeguarded against fraudulent or unfair practices.