Which of the Following Is True About Monopolistic Competition but False

question 27

Multiple Choice

Which of the following is true about monopolistic competition but false about perfect competition?

• A) There are a large number of independently acting sellers.
• B) There are no barriers to entry.
• C) Firms can make an economic profit in the short run.
• D) Firms compete on their product's price as well as its quality and marketing.
• E) Firms cannot make an economic profit in the long run.

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Definitions:

Contact Lenses

Vision-correcting devices that are placed directly on the surface of the eye.

Corneal Injury

Damage or trauma to the cornea, the clear, protective outer layer of the eye, which can affect vision and eye health.

Otitis Externa

An inflammation or infection of the outer ear canal, often referred to as "swimmer's ear."

Perception

The process of organizing and interpreting sensory information so that it makes sense.