In the Long Run,a Firm in Monopolistic Competition ________ a Markup

question 139

Multiple Choice

In the long run,a firm in monopolistic competition ________ a markup of price over marginal cost,and a firm in perfect competition ________ a markup of price over marginal cost.

• A) has; has
• B) has; does not have
• C) does not have; has
• D) does not have; does not have
• E) might have; might have

---

Definitions:

Western Societies

Cultures and communities typically found in Western Europe and North America, characterized by democratic political systems, capitalist economies, and specific socio-cultural norms.

Bureaucratized

The process of managing an organization by adhering strictly to fixed rules and formalities.

Hospitalized

The state of being admitted to a hospital for treatment, observation, or care, often due to illness, injury, or surgery.

American Society

The collective social structure of the United States, characterized by its cultural diversity, values, and norms.