In Which of the Following Ways Is a Monopolistically Competitive

question 92

Multiple Choice

In which of the following ways is a monopolistically competitive firm like a perfectly competitive firm?

• A) Short-run economic profits are always positive.
• B) Short-run economic profits may be positive, negative, or zero.
• C) Long-run economic profits are negative.
• D) Long-run economic profits are positive.

---

Definitions:

Throttle Position Sensor

A sensor used to monitor the position of the throttle in an internal combustion engine, sending data to the engine control unit to optimize engine performance.

Volatile

Characterizes substances that easily vaporize at normal temperatures and pressures, often referring to liquids with high vapor pressures.

RAM

Random Access Memory, a type of computer memory that can be accessed randomly, any byte of memory can be accessed without touching the preceding bytes.

Forward Bias

In electronics, a condition where the positive end of a voltage source is connected to the p-type material and the negative end to the n-type material of a semiconductor, allowing current flow.