Figure 13-2 ​

question 201

Multiple Choice

Figure 13-2
​
-In monopolistic competition, the long-run equilibrium results in zero economic profit of the firms in these industries.The key factor in this is

• A)differentiated products.
• B)freedom of entry into and exit from the industry.
• C)price discrimination.
• D)brand names.

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Definitions:

Military Strategists

Individuals skilled in the planning and directing of military operations, often involved in developing tactics, strategies, and logistical plans for warfare.

Keynesian Economic

An economic theory advocating for government interventions to influence demand through fiscal and monetary policies.

New Deal

A series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States during the 1930s to respond to the Great Depression.

American Big Business

Large-scale, corporate enterprises that emerged in the United States during the 19th and early 20th centuries, often characterized by monopolistic practices, significant economic power, and influence over government policies.