Which of the Following Statements Is Correct

question 325

Multiple Choice

Which of the following statements is correct?

• A) Firms in monopolistic competition and monopoly can earn economic profits in both the short run and the long run.
• B) Both perfectly competitive and monopolistically competitive firms are price takers.
• C) Both a monopolistically competitive industry and a monopoly are characterized by a very small number of (or one) firm(s).
• D) Firms can easily enter a perfectly competitive or monopolistically competitive industry.

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Definitions:

Equipment Malfunction

Refers to the failure of a piece of equipment to operate as expected, which can occur due to various reasons such as wear and tear, manufacturing defects, or improper use.

Patient Falls

Incidents where patients unintentionally drop to the ground or floor or another lower level.

Laboratory Specimen Errors

Mistakes that occur during the collection, handling, processing, or analysis of laboratory samples, potentially leading to inaccurate diagnostic results.

Forward Facing

Oriented towards the front; often refers to the positioning of child car seats or the direction of progress.