Which Statement Concerning Monopolistic Competition Is False

question 149

Multiple Choice

Which statement concerning monopolistic competition is false?

• A) Long-run equilibrium under monopolistic competition and pure competition both entail zero economic profits for firms.
• B) Monopolistic competition is likely to result in a greater variety of product brands than pure competition.
• C) The monopolistically competitive demand curve is more elastic than the demand curve facing a monopoly.
• D) Long-run equilibrium in monopolistic competition does not entail any economic inefficiency because of easy entry and exit.

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Definitions:

Medication Administration

The process of giving a medication to a patient via any number of routes, such as orally or intravenously.

NG Tube Placement

The insertion of a nasogastric tube through the nose, past the throat, and down into the stomach for feeding or drainage.

Scored Tablets

Tablets marked with a line, making it easier to split them evenly, often used for adjusting dosages.

Liquid Dosage

A form of medication delivery that involves consuming the medicine in liquid form for ease of swallowing and absorption.