In Monopolistic Competition,there Are ________ Barriers to Entry and So

question 13

Multiple Choice

In monopolistic competition,there are ________ barriers to entry and so firms in monopolistic competition ________ make an economic profit in the long run.

• A) high; can
• B) high; cannot
• C) no; can
• D) no; cannot
• E) sometimes; can sometimes

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Definitions:

Information

Data that has been processed, organized, or structured in a way that adds context or meaning, making it useful for decision-making.

Local Unemployment

The percentage of the workforce that is not employed within a specific geographical area.

National Unemployment

The percentage of the labor force that is unable to find employment, considered an important indicator of the economic health of a country.

Average Age

The mean age of a specific group or population, calculated by dividing the sum of individual ages by the number of individuals.