In the Long Run, Economic Theory Predicts That a Monopolistically

question 75

Multiple Choice

In the long run, economic theory predicts that a monopolistically competitive firm will

• A)earn an economic profit.
• B)realize all economies of scale.
• C)equate price and marginal cost.
• D)have excess production capacity.

---

Definitions:

Restrictive Indorsement

An endorsement on a negotiable instrument, like a check, that limits its use, such as specifying that the instrument must be deposited into a particular account.

Negotiates

The act of discussing something formally to reach an agreement, often in business or diplomatic discussions.

Collection System

A method or process used to gather or accumulate items, information, or debts from various sources.

Countermand

To revoke, cancel, or reverse an order or directive that has been previously issued.