A Monopolistically Competitive Market Is Like Both a Competitive Market

question 578

Multiple Choice

A monopolistically competitive market is like both a competitive market and a monopoly in that firms in all three market structures

• A) can earn economic profits in the short run.
• B) can earn economic profits in the long run.
• C) charge a price above marginal cost.
• D) All of the above are correct.

---

Definitions:

Systolic Pressure

The pressure in the arteries when the heart beats and fills them with blood, the higher number in a blood pressure reading.

Left Ventricle

The chamber of the heart that receives oxygenated blood from the left atrium and pumps it out to the body through the aorta.

Diastolic Pressure

The blood pressure measured when the heart's chambers are refilling with blood, representing the lowest pressure in the cardiovascular system during the cardiac cycle.

Hypothalamic Response

The reaction of the hypothalamus, a region of the brain, to stimuli, influencing processes such as temperature regulation, hunger, thirst, and stress.