An Important Similarity Between a Monopolistically Competitive Firm and a Purely

question 54

Multiple Choice

An important similarity between a monopolistically competitive firm and a purely competitive firm is that

• A) both face perfectly elastic demand schedules.
• B) economic profit tends toward zero for both.
• C) both realize productive efficiency.
• D) both realize allocative efficiency.

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A unit of digital information in computing and telecommunications that most commonly consists of eight bits.

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