Which Statement Is True About the Monopolistic Competitor in the Long

question 150

Multiple Choice

Which statement is true about the monopolistic competitor in the long run?

• A)It will be making a profit.
• B)It will be taking a loss.
• C)It may be making a profit or taking a loss.
• D)It will be breaking even.

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Definitions:

Equilibrium

A state of balance or stability, where all forces acting on a system are equal and opposite, resulting in no net change.

Sound Wave Frequency

The number of sound waves that pass a fixed point in a unit of time, typically measured in Hertz (Hz).

Hertz (Hz)

The unit of frequency in the International System of Units (SI), representing one cycle per second.

Spiral Organ

Also known as the organ of Corti, it is located in the cochlea of the inner ear and is essential for hearing.