Which of the Following Statements Best Describes the Price,output,and Profit

question 87

Multiple Choice

Which of the following statements best describes the price,output,and profit conditions of monopolistic competition?

• A) Price will equal marginal cost at the profit-maximizing level of output,and profits will be positive in the long run.
• B) Price will always equal average variable cost in the short run,and either profits or losses may result in the long run.
• C) Marginal revenue will equal marginal cost in the short run at a profit-maximizing level of output; in the long run,economic profit will be zero.
• D) Marginal revenue will equal average total cost in the short run,and long-run economic profits are generally positive but could be zero.
• E) Output is equal to the amount for which marginal revenue equals price.

Recognize the significance of veins that return blood directly to the heart.

Understand the roles and responsibilities of a paralegal, including specialties and job duties.

Identify the challenges and advantages of working as a freelance paralegal.

Recognize the different areas of law in which paralegals can specialize and work.

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Definitions:

Accepts Cash

A phrase indicating that a business or entity is willing to receive cash as a form of payment for goods or services.

Permanent Working Capital

The minimum amount of working capital that a company needs to operate continuously.

Long-Term Debt

Borrowings by a company that are due for repayment after one year or more.

Tax Breaks

A reduction in the amount of taxes that an individual or company owes to the government, often used to incentivize certain behaviors or investments.