Monopolistic Competition Differs from Perfect Competition Because

question 97

Multiple Choice

Monopolistic competition differs from perfect competition because

• A)monopolistic competitors have few firms in each industry.
• B)monopolistic competitors have a significant influence over the market price.
• C)monopolistic competitors do not produce at the lowest point on the average total cost curve.
• D)monopolistic competitors can make a profit even in the long run.

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Definitions:

Nucleotides

The basic building blocks of DNA and RNA, consisting of a nitrogenous base, a sugar molecule, and a phosphate group.

DNA

Deoxyribonucleic acid, a molecule that carries the genetic instructions for the development and functioning of living organisms.

Posttranslational

Refers to the chemical modifications and processes occurring to a protein after it has been synthesized by ribosomes.

Translational

Pertaining to the process of translating the sequence of a messenger RNA (mRNA) molecule to a sequence of amino acids during protein synthesis.