In the Long Run, the Representative Firm in Monopolistic Competition

question 51

Multiple Choice

In the long run, the representative firm in monopolistic competition tends to have

• A) excess capacity.
• B) economic profits.
• C) no product differentiation.
• D) a perfectly elastic demand curve.

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Definitions:

Month

In programming, "Month" can refer to a variable or function used to represent or manipulate months in dates and calendars.

Declaration

The act of specifying the type and structure of a variable or function, without necessarily allocating space or defining its behavior.

Struct Date

A user-defined data type in C programming used to store date information, typically composed of day, month, and year fields.

Initialize

The process of assigning an initial value to a variable or data structure at the time of its creation.