The Entry and Exit of Firms in a Monopolistically Competitive

question 196

Multiple Choice

The entry and exit of firms in a monopolistically competitive market guarantee that

• A)marginal revenue equals marginal cost and average total cost is minimized.
• B)firms can earn economic profits in the long run.
• C)price equals average total cost in the long run.
• D)firms can earn economic profits in the short run.

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Definitions:

Placement Offices

Institutions or departments within organizations that assist individuals in finding employment opportunities.

Résumés

Documents created by job applicants summarizing their work experience, education, skills, and accomplishments.

Online Networks

Digital platforms or communities where individuals and organizations connect, share information, and engage with content.

Application Letter

A document submitted to an employer that expresses the sender's interest in a job and highlights their qualifications.