In the Long Run,a Firm in Monopolistic Competition ________ Excess

question 4

Multiple Choice

In the long run,a firm in monopolistic competition ________ excess capacity and a firm in perfect competition ________ excess capacity.

• A) has; has
• B) has; does not have
• C) does not have; has
• D) does not have; does not have
• E) might have; might have

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Definitions:

Orvieto Cathedral

A large 14th-century Roman Catholic cathedral located in Orvieto, Italy, noted for its stunning facade and significance in medieval architecture.

Silk Trade

An ancient network of trade routes that connected the East and West, significant for the exchange of silk, spices, and other goods, facilitating cultural exchanges.

Technical Effects

Refers to the specific visual or auditory effects achieved through the use of technology in art, film, theater, and other mediums to enhance the experience.

Fresco

Painting on lime plaster, either dry (dry fresco, or fresco secco) or wet (true, or buon, fresco). In the latter method, the pigments are mixed with water and become chemically bound to the freshly laid lime plaster. Also, a painting executed in either method.