In the Long Run, the Equilibrium Number of Monopolistically

question 127

Multiple Choice

In the long run, the equilibrium number of monopolistically
Competitive firms with trade:

• A)is less than the total number of firms worldwide in autarky.
• B)is the same as the total number of firms worldwide in autarky.
• C)is greater than the total number of firms worldwide in autarky.
• D)may be less than, the same as, or greater than the total number of firms worldwide in autarky.

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Definitions:

Unequal Size

A description of items, groups, or entities that are not the same in dimensions, capacity, or magnitude.

Assets

Resources with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.

Sense of Self

The perception or awareness one has of themselves as a separate, distinct individual, including their traits, beliefs, and feelings.

Social Organization

The patterned network of relationships constituting a coherent society or segment of society.