If There Are a Large Number of Firms in a Monopolistically

question 43

Multiple Choice

If there are a large number of firms in a monopolistically competitive industry

• A) the country in which the firms are located can be expected to export the goods they produce.
• B) long-run profit will be equal to zero.
• C) there will be a small number of firms that are very large and the rest will be very small.
• D) the firms will converge production on a standardized product.
• E) there will be barriers to entry that prevent additional firms from entering the industry.

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A metric unit of volume equal to one cubic decimeter, used to measure liquids and gases.

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The act or process of receiving guests or answering calls in settings such as hotels, events, or offices.

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The United States Department of Agriculture, an agency overseeing agriculture, food safety, and rural development.

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