Monopolistic Competition Is Judged to Be Economically Inefficient Because

question 151

Multiple Choice

Monopolistic competition is judged to be economically inefficient because

• A) the price is greater than marginal cost.
• B) firms make zero economic profit in the long run.
• C) marginal revenue equals marginal cost.
• D) firms have deficient capacity in the long run.
• E) firms make an economic profit in the long run.

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Definitions:

Radial Artery

An artery located in the groove on the thumb side of the inner wrist, where the pulse is taken on adults.

Degrees Fahrenheit

A temperature scale where the freezing point of water is 32 degrees and the boiling point is 212 degrees under standard atmospheric conditions.

Celsius

A scale of temperature on which water freezes at 0° and boils at 100° under standard conditions.

Noisy Breathing

A breathing pattern that is loud, harsh, or wheezing, often indicating a blockage or obstruction in the airways.