Which of the Following Is Similar for Both a Competitive

question 106

Multiple Choice

Which of the following is similar for both a competitive industry and a monopoly?

• A) The level of economic profits in the long run.
• B) Continuous pressure to improve product quality.
• C) Profits signal consumers' demand for more output.
• D) In the long run,average total costs are minimized.

Understand the tools and components of fiscal policy.

Comprehend the difference and relationship between fiscal policy, government spending, and taxation.

Identify the effects of fiscal policy on aggregate demand and supply.

Distinguish between discretionary fiscal policy and automatic stabilizers.

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