Which Statement Is True

question 78

Multiple Choice

Which statement is true?

• A)Product differentiation can take place even if there are no physical differences among products.
• B)Price discrimination is not possible in monopolistically competitive firms.
• C)Economies of scale ensure that monopolistically competitive firms make a profit in the long run.
• D)The absence of barriers to entry ensures short-run profits for monopolistic competitors.

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Definitions:

Creative Behaviour

Involves actions aimed at generating new ideas, processes, or solutions within a given context or field.

Identity Shift

A process by which an individual's self-perception and presentation to others change, often due to new experiences or roles.

Open Innovation

A business management model that encourages companies to acquire external ideas and internal inventions to accelerate innovation and market adoption.

In-house R&D

Research and Development activities carried out within an organization, as opposed to outsourcing or external collaborations.