Which of the Following Is True Under Monopolistic Competition in the Long

question 93

Multiple Choice

Which of the following is true under monopolistic competition in the long run?

• A)profits are always zero.
• B)P > MC.
• C)P = MR.
• D)all of the choices are true in monopolistic competition.

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Definitions:

CRM

Customer Relationship Management, a technology for managing a company's interactions and relationships with current and potential customers.

MRP II

Manufacturing Resource Planning (MRP II) is an integrated method for effective planning of all resources of a manufacturing company, including production scheduling and inventory management.

MRP

Stands for Material Requirements Planning, a system for calculating materials and components needed to manufacture a product.

SCM

Stands for Supply Chain Management, which involves managing the flow of goods and services, including all processes that transform raw materials into final products.