In the Long Run,in Monopolistic Competition

question 49

Multiple Choice

In the long run,in monopolistic competition

• A) the demand curve is tangent to the marginal cost curve.
• B) price equals marginal cost.
• C) price equals minimum average total cost.
• D) firms have an incentive to leave.
• E) economic profits are zero.

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Definitions:

Customer Complaints

Refers to the expressions of dissatisfaction by a customer to a responsible party regarding a product or service.

Brand Recognition

The ability of consumers to identify a brand by its attributes, such as logos, jingles, packaging, etc., which distinguishes it from competitor brands.

Order Cycle

The complete process or timeframe from the moment an order is placed until it is delivered, including order processing, manufacturing, and shipping stages.

Prints Tickets

The process of producing tickets for events, transportation, or other purposes, typically involving specialized printing technology.