The Entry and Exit of Firms in a Monopolistically Competitive

question 196

Multiple Choice

The entry and exit of firms in a monopolistically competitive market guarantee that

• A)marginal revenue equals marginal cost and average total cost is minimized.
• B)firms can earn economic profits in the long run.
• C)price equals average total cost in the long run.
• D)firms can earn economic profits in the short run.

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Definitions:

Unethical Leadership

Leadership actions or behaviors that are considered morally wrong, often violating established norms or ethics.

Self-Esteem

A measure of how much you value and respect yourself.

Transforming Leadership

focuses on creating significant change in an organization through vision, inspiration, and fostering an environment where innovation and performance can thrive.

Influencing Superiors

The act of persuading or impacting the decisions, actions, and views of one's higher-ups or bosses in an organization.