A Monopolistically Competitive Firm Has Excess Capacity Because in the

question 60

Multiple Choice

A monopolistically competitive firm has excess capacity because in the

• A)long run,average total cost exceeds minimum average total cost.
• B)short run,marginal revenue exceeds marginal cost.
• C)long run,it makes an economic profit.
• D)short run,average total cost is less than average variable cost.
• E)long run,average total cost is less than average variable cost.

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Definitions:

Worldly Goods

Material possessions or wealth, often contrasted with spiritual or intangible values in philosophical and religious discourse.

Wabi

A Japanese aesthetic concept that focuses on the beauty of imperfection and transience, emphasizing simplicity, modesty, and the appreciation of the incomplete.

Sabi

Japanese; the value found in the old and weathered, suggesting the tranquility reached in old age.

Tea Ceremony

A ritualized, ceremonial way of preparing and drinking tea, especially in Japanese culture, emphasizing aesthetics, formality, and philosophy.