Which of the Following Characterize a Firm in Monopolistic Competition

question 189

Multiple Choice

Which of the following characterize a firm in monopolistic competition in the long run?
i.operating at the minimum efficient scale
ii.markups of price over marginal cost
iii.zero economic profit

• A) i and ii
• B) i and iii
• C) ii and iii
• D) i, ii, and iii
• E) only ii

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Definitions:

Restriction

A limitation or rule set in place to regulate actions or activities, often used to protect security, privacy, or compliance with regulations.

Co-Operative Programs

Educational programs that combine classroom learning with practical work experience, often integrating students directly into the workforce as part of their studies.

Best Interests

The most advantageous outcome or decision considering the well-being or advantage of an individual or group.

Defensive

Used to describe behavior or actions that are intended to protect oneself or one's position from criticism, danger, or attack.