Which of the Following Is False

question 70

Multiple Choice

Which of the following is false?

• A) Long run equilibrium in monopolistic competition results in zero economic profits.
• B) Monopolistic competitor's demand curves are likely to be more elastic than those of monopolists.
• C) Monopolistic competition results in a greater variety of products than perfect competition.
• D) Monopolistic competition's zero economic profit long run equilibrium is efficient, like the zero profit equilibrium in perfect competition.

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Definitions:

Exchange Theory

A social theory proposing that social behavior is the result of an exchange process aimed at maximizing benefits and minimizing costs to oneself.

Romantic Love

A deeply emotional and passionate affection for another person, often characterized by a desire for a close and enduring romantic relationship.

Define Intimacy

The act or process of making known or familiar, typically referring to close and personal relationships characterized by emotional, physical, or sexual closeness.

Ludus Style

exemplifies a type of love characterized by a playful, casual, and sometimes uncommitted approach to romantic relationships, focusing on fun and enjoyment.