Refer to the Following Graph to Answer the Following Questions

question 40

Multiple Choice

Refer to the following graph to answer the following questions:

-If all firms in a monopolistically competitive industry have demand and cost curves like those shown,we would expect,in the long run,that

• A) all firms will leave the industry.
• B) a certain percentage of existing firms will exit the industry.
• C) firms in the industry will earn negative economic profits.
• D) new firms will enter the industry.
• E) enough new firms will enter the industry that it will become perfectly competitive.

---

Definitions:

Strategic Marketing Process

A systematic approach to planning, executing, and evaluating marketing strategies to achieve business goals.

Planning Phase

The initial stage in a project or strategy development where objectives are set, and resources are allocated.

SWOT Analysis

A strategic planning technique used to identify a company's Strengths, Weaknesses, Opportunities, and Threats.

Marketing Program

A comprehensive plan that outlines marketing strategies, tactics, and actions to achieve business objectives.