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

question 139

Multiple Choice

In the long run,a firm in monopolistic competition ________ a markup of price over marginal cost,and a firm in perfect competition ________ a markup of price over marginal cost.

• 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:

Ease of Retrieval Effect

A phenomenon where individuals judge an event or concept as more frequent or influential if they can easily recall examples of it.

Working Memory Capacity

The amount of information that an individual can hold and manipulate in their mind at one time for short periods.

Sense of Self

The perception or consciousness of one's own identity and being.

Personal Relevance

The degree to which information or an event is pertinent to an individual's life and interests.