Which of the Following Is NOT a TRUE Statement About

question 251

Multiple Choice

Which of the following is NOT a TRUE statement about perfectly competitive and monopolistically competitive firms?

• A) Both monopolistically competitive and perfectly competitive firms have perfectly elastic demands.
• B) In the long run, only monopolistically competitive firms have excess capacity.
• C) Perfectly competitive firms produce at their efficient scale.
• D) There are a large number of firms in both monopolistically competitive and perfectly competitive markets.

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Definitions:

Interests

Preferences or desires that influence choices and actions, ranging from personal hobbies to professional pursuits.

Conflict

A situation where parties with opposing interests, goals, or values encounter each other, leading to tension or disputes.

Productive

The state of being able to produce a significant amount or result, especially in terms of work or economy.

Conflict

A disagreement or clash between two or more parties due to differing opinions, interests, or values.