Because Economic Profits Are Eliminated in the Long Run in Monopolistic

question 66

Multiple Choice

Because economic profits are eliminated in the long run in monopolistic competition,to make an economic profit,firms continuously

• A) shut down.
• B) exit the industry.
• C) develop and market new products.
• D) declare bankruptcy.
• E) decrease their costs by decreasing their selling costs.

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Definitions:

Pluralism

The coexistence of multiple groups or cultures within a society, recognizing and valuing diversity.

Inclusivity

The practice of ensuring equal access and opportunities for all, particularly for those who might be otherwise excluded or marginalized.

Competitive Advantage

The attribute that allows an organization to outperform its competitors, creating greater value for its customers or clients.

Leaking Pipeline

A metaphor often used to describe the continuous loss of individuals from a system, process, or profession, especially referring to underrepresented groups in certain fields.