Which Statement Concerning Monopolistic Competition Is False

question 51

Multiple Choice

Which statement concerning monopolistic competition is false?

• A)Long-run equilibrium under monopolistic competition and pure competition both entail zero economic profits for firms.
• B)Monopolistic competition is likely to result in a greater variety of product brands than pure competition.
• C)The monopolistically competitive demand curve is more elastic than the demand curve facing a monopoly.
• D)Long-run equilibrium in monopolistic competition does not entail any economic inefficiency because of easy entry and exit.

---

Definitions:

Personal Skills

Attributes and competencies that enhance an individual's interactions, job performance, and career prospects.

Theoretical Orientation

The fundamental philosophical approach that guides a therapist’s or researcher’s understanding of clients and their problems, as well as the methods employed to help them.

Practicing Psychologists

Licensed professionals who apply psychological principles and techniques to assess and treat mental health issues and promote well-being.

Eclectic

Eclectic describes an approach or style that combines elements from various sources or disciplines, often used in contexts like therapy, decorating, or philosophy.