If Monopolistic Competitors Are Taking Losses,in the Long Run Firms

question 148

Short Answer

If monopolistic competitors are taking losses,in the long run firms ________ and market price will _______.

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Definitions:

Cost-effectiveness Evaluation

An assessment technique used to determine the best method of achieving a specific outcome with the least amount of resources, commonly applied in health economics and public policy.

Scrap

In a business context, scrap refers to waste material or unwanted items resulting from manufacturing processes, often recycled or discarded.

Return on Investment

A performance measure used to evaluate the efficiency of an investment or compare the efficiency of a number of different investments.

Gross Benefit

Gross benefit refers to the total positive outcomes or advantages gained from an activity or investment before subtracting any costs.