In the Model of Monopolistic Competition,if Firms Have ________ Average

question 45

Multiple Choice

In the model of monopolistic competition,if firms have ________ average cost curves,then opening trade will cause ________ firms to ________ the industry.

• A) different; less efficient; exit
• B) different; more efficient; enter
• C) symmetric; less efficient; exit
• D) symmetric; more efficient; enter
• E) symmetric; less efficient; enter

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Definitions:

Source Document

Original records that provide evidence of a financial transaction, such as invoices, receipts, contracts, or bank statements.

QBO

Acronym for QuickBooks Online, a cloud-based financial management software.

Money Out

A term referring to payments or expenditures made by a business, leading to an outflow of funds.

Pay Bills

The act of settling outstanding accounts payable or obligations, usually referring to the remittance of money to creditors.