In the Long Run, a Monopolistically Competitive Firm

question 114

Multiple Choice

In the long run, a monopolistically competitive firm

• A) earns positive economic profits.
• B) earns zero economic profits.
• C) earns negative economic profits.
• D) can have positive, zero, or negative profits.

---

Definitions:

Biological Needs

Basic requirements for human survival, such as air, food, drink, shelter, warmth, sex, sleep, and the excretion of waste.

Northern England

A region in England characterized by its distinct cultural, historical, and geographical features, including major cities like Manchester and Leeds.

West Africa

A region in Africa that includes countries on the Atlantic coast, known for its diverse cultures, languages, and histories.

Deprivation

A lack or denial of something considered to be a necessity, leading to adverse effects on physical or psychological well-being.