Which of the Following Is Uncharacteristic of Monopolistic Competition in the Long

question 151

Multiple Choice

Which of the following is uncharacteristic of monopolistic competition in the long run?

• A) firms selling heterogeneous products
• B) zero economic profits
• C) price in excess of marginal revenue
• D) equilibrium on the increasing portion of the average total cost curve

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Definitions:

Neuroscience Perspective

An approach that explores the structure and function of the nervous system, including the brain, to understand behavior, thought, and emotion.

Aggressive Acts

Acts characterized by hostility or violence towards others.

Evolutionary

Pertaining to the process by which organisms change over generations due to inherited traits, natural selection, and adaptation.

Cognitive

Relating to mental processes involved in perception, memory, judgment, and reasoning.