Which of the Following Characterize a Firm in Monopolistic Competition

question 189

Multiple Choice

Which of the following characterize a firm in monopolistic competition in the long run?
i.operating at the minimum efficient scale
ii.markups of price over marginal cost
iii.zero economic profit

• A) i and ii
• B) i and iii
• C) ii and iii
• D) i, ii, and iii
• E) only ii

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Definitions:

Retail Sales

The total sales of goods and services to consumers through retail outlets, indicating economic health.

Analytical Tool

A software or method used to analyze data or information, often to identify patterns, trends, or insights for decision-making.

Retail Outlets

Physical locations where consumers can purchase goods or services directly from a retailer.

Product Line

A group of related products manufactured or sold by a business.