In the Model of Monopolistic Competition,there Can Be Short-Run

question 20

Multiple Choice

In the model of monopolistic competition,there can be short-run:

• A) losses or profits, but there must be profits in long-run equilibrium.
• B) profits, but there must be losses in long-run equilibrium.
• C) losses or profits, but there must be losses in long-run equilibrium.
• D) losses or profits, but there must be neither profits nor losses in long-run equilibrium.
• E) losses, but there must be profits in long-run equilibrium.

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Definitions:

Stage Fright

Anxiety or fear experienced before or during a public performance or presentation.

Preparing

The act of making ready or being made ready for use or consideration, involving planning and arrangement.

Summarizing

Summarizing involves condensing the main ideas or points of a discussion, document, or presentation into a brief synopsis.

Rehearsing

The act of practicing or going over material, actions, or presentations beforehand to ensure a smooth performance.