Use the Following to Answer Questions

question 158

Multiple Choice

Use the following to answer questions :
Scenario: Monopolistically Competitive Firm
For a monopolistically competitive firm,the demand curve is given by Q = 160 - P,and the firm's cost functions are MC = 20 + 2Q and TC = 20Q + Q² + 20.
-(Scenario: Monopolistically Competitive Firm) Use Scenario: Monopolistically Competitive Firm.Given the information in the scenario,in the long run,this firm can expect that:

• A) its demand curve will become more elastic as it dominates the market more.
• B) its economic profits will decrease to zero.
• C) its losses will fall and eventually become a positive economic profit.
• D) other firms will not enter or exit the industry.

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Definitions:

Condensation Polymers

Polymers formed by the condensation reaction, where two monomers react to produce a small molecule, such as water, along with the polymer.

Polymerization Reactions

Chemical reactions that join small molecules (monomers) together to form long chains or networks (polymers), which can be initiated by heat, light, or catalysts.

Chain Growth

The process in polymer chemistry where monomers add to a growing polymer chain one at a time, often characterized by a single active site.

Monomer

A small molecule that can bind to other similar molecules to form a polymer.