Figure 103 Shows the Demand, Marginal Revenue, and Cost Curves for for a Monopolistic

question 140

Multiple Choice

Figure 10.3 shows the demand, marginal revenue, and cost curves for a monopolistic competitor. In the long run, _____.​ ​
Figure 10.3.
​

• A)new technology will lower average total costs and increase profits for the firm
• B)firms will exit this market, causing economic profit to increase​
• C)product differentiation will lead to an increase in profits earned by the firm​
• D)new firms will enter the market, driving economic profit to zero​
• E)firms will produce 15 units of output in the long run​

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The deterioration of ethical values and principles within a society or group.

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