Which of the Following Statements Is Correct

question 253

Multiple Choice

Which of the following statements is correct?

• A) Firms in monopolistic competition and monopoly can earn economic profits in both the short run and the long run.
• B) Both perfectly competitive and monopolistically competitive firms charge a price equal to marginal cost.
• C) Firms in perfect competition, monopolistic competition, and monopoly maximize profits by producing where marginal revenue equals marginal cost.
• D) Both perfectly competitive and monopolistically competitive firms produce the welfare-maximizing level of output.

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Definitions:

Windowing Interfaces

Graphical user interface systems that allow users to interact with electronic devices through graphical icons and visual indicators.

ActionListener Interface

An interface in Java used for receiving action events, typically from user interface elements like buttons.

actionPerformed

A method typically used in graphical user interface programming to handle the event of an action being performed.

Pixel

The smallest unit of an image displayed on a screen, often consisting of components like red, green, and blue.