Which of the Following Is a Similarity Between Perfect Competition

question 46

Multiple Choice

Which of the following is a similarity between perfect competition and monopolistic competition?

• A) Both expect zero economic profits in the long run.
• B) Both experience increasing returns to scale for a significant range of output.
• C) Both charge a price in excess of marginal cost.
• D) Both have differentiated products.

---

Definitions:

Breach Of Contract

The violation of any term of a contract without a legitimate legal excuse, which allows the other party to the contract to seek legal remedies.

Recovery

The process of regaining possession or control of something lost or taken away, or the return to a normal state of health, mind, or strength.

Dishonor

The refusal or inability to accept or pay a bill of exchange, promissory note, or other credit instrument when due.

Real Defenses

Legitimate legal defenses available in disputing the validity or enforceability of negotiable instruments.