Which of the Following Market Structures Is (Are)capable of Earning

question 106

Multiple Choice

Which of the following market structures is (are) capable of earning positive economic profits in the long run?

• A) monopoly
• B) oligopoly
• C) monopolistic competition
• D) Both A and B.

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Definitions:

Ozone

A molecule composed of three oxygen atoms, significant for its role in absorbing harmful ultraviolet radiation in the Earth's stratosphere.

Smog

A type of air pollution characterized by a mixture of smoke and fog, often resulting from industrial emissions and vehicle exhaust.

Stratospheric Ozone

A layer of ozone molecules located in the Earth's stratosphere that absorbs and protects living organisms from the harmful effects of the sun's ultraviolet radiation.

Ultraviolet Radiation

Electromagnetic radiation with a wavelength shorter than that of visible light, but longer than X-rays, which can have effects on the skin such as sunburns and vitamin D synthesis.