Which of the Following Characterize a Firm in Monopolistic Competition

question 189

Multiple Choice

Which of the following characterize a firm in monopolistic competition in the long run?
i.operating at the minimum efficient scale
ii.markups of price over marginal cost
iii.zero economic profit

• A) i and ii
• B) i and iii
• C) ii and iii
• D) i, ii, and iii
• E) only ii

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Definitions:

Emotional Tie

A strong psychological connection to a person, place, or thing, characterized by feelings of affection or emotional involvement.

Caregiver

An individual who provides care and support to someone who is unable to care for themselves due to age, illness, or disability.

Newborns

Very young babies, typically considered to be in the first few weeks of life, characterized by rapid physical and neurological development.

Crying

The shedding of tears in response to an emotional state, physiological condition, or physical irritation of the eye.