In the Long Run, Firms in Both Monopolistically Competitive Markets

question 155

Multiple Choice

In the long run, firms in both monopolistically competitive markets and perfectly competitive markets earn zero economic profits, but unlike perfectly competitive firms in the long run, monopolistically competitive firms

• A)charge a price that is greater than average revenue.
• B)charge a price that is equal to marginal cost.
• C)do not produce at minimum average total cost.
• D)charge a price that is equal to average total cost.

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Definitions:

Delivery Schedules

Plans outlining when and how products or materials will be delivered to a specific location, often used in manufacturing and retail to ensure timely operations.

E-Commerce Strategies

Planned actions designed to promote and sell products or services through electronic channels, focusing on optimizing online presence and customer engagement.

Operational Planning

Detailed standards that guide implementation of tactical plans.

Strategic Planning

Process of determining the primary objectives of an organization and then acting and allocating resources to achieve those objectives.