Which of the Following Is Not a Characteristic of a Monopolistically

question 139

Multiple Choice

Which of the following is not a characteristic of a monopolistically competitive firm in long-run equilibrium?

• A)Marginal revenue is equal to marginal cost.
• B)Price is equal to average revenue.
• C)The firm has excess capacity.
• D)Price is equal to marginal cost.

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Definitions:

Sleepiness

The state or condition of feeling the need for sleep, characterized by tiredness, reduced alertness, and a lack of energy.

Bright Light

Refers to intense illumination that can influence mood, circadian rhythms, and visual processes.

Circadian Rhythm

An internal biological clock regulating the sleep-wake cycle and other physiological processes in a roughly 24-hour cycle.

Weekends

The part of the week traditionally reserved for rest and leisure activities, in many cultures spanning Saturday and Sunday.