In the Long Run,a Firm in Monopolistic Competition

question 6

Multiple Choice

In the long run,a firm in monopolistic competition

• A) makes zero economic profit.
• B) produces at a minimum average total cost.
• C) has deficient capacity.
• D) can make either a normal profit or an economic profit.
• E) produces a quantity where its demand curve is upward sloping.

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Definitions:

Agency

The capacity of individuals or groups to act independently and make free choices, shaping their own lives and the structures around them.

Sexual Relations

Interactions between individuals involving sexual intimacy or activities.

Public Space

Areas in communities that are open and accessible to people, such as parks, streets, and public squares, meant for use and enjoyment by the public.

Normative

Relates to establishing, relating to, or deriving from a standard or norm, particularly in the context of ethics or societal norms.