Table 16-4 This Table Shows the Demand Schedule, Marginal Cost, and Average

question 137

Multiple Choice

Table 16-4
This table shows the demand schedule, marginal cost, and average total cost for a monopolistically competitive firm.

-Refer to Table 16-4.Which of the following is likely to happen in the long run in this market?

• A) The market is currently in a long-run equilibrium.
• B) The market price is likely to fall.
• C) Firms are likely to enter the market since firms are earning a positive economic profit.
• D) Firms are likely to leave the market since firms are earning a negative economic profit.

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A shorthand or slang term for "specified," referring to the detailed and particular requirements or features of a vehicle or component.

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Nominal Size

The labeled or advertised dimensions of a component, which may not exactly match its actual, physical size.

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The process of building or assembling infrastructure, buildings, or other physical structures, involving planning, design, and execution.