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.

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Definitions:

Democratic Ideals

Principles that support the belief in equality, freedom, and justice within a societal system where government is carried out by the people, either directly or through elected representatives.

Abraham Lincoln Brigade

American volunteers who fought for the Republican side against Franco's Nationalists in the Spanish Civil War, notable for comprising anti-fascist activists.

Fascism

A political ideology that advocates for authoritarian ultra-nationalism, centralized power, and dictatorial leadership, often combined with the suppression of opposition.

Ethiopia

A country in the Horn of Africa, known for its ancient civilization and diverse cultural heritage.