Which of the Following Is NOT Similar Between Monopolistic Competition

question 306

Multiple Choice

Which of the following is NOT similar between monopolistic competition and perfect competition?

• A)Many firms compete in the market.
• B)It's easy to enter the market.
• C)The firms have downward sloping demand curves.
• D)The firms might incur economic losses in the short run.
• E)In the long run,the firms earn zero economic profit.

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Definitions:

Border States

Refers to the slave states that did not secede from the Union during the American Civil War, namely Delaware, Maryland, Kentucky, and Missouri.

Emancipation Proclamation

A historic executive order issued by President Abraham Lincoln in 1863 that declared the freedom of all enslaved people in Confederate states.

Officially Take Effect

When something is said to officially take effect, it means it begins to legally or formally be applied or enforced from a specified moment.

January 1, 1863

The date when the Emancipation Proclamation was officially issued by President Abraham Lincoln, declaring the freedom of all slaves in Confederate territory.