Monopolistic Competition and Perfect Competition Are Different in That

question 191

Multiple Choice

Monopolistic competition and perfect competition are different in that

• A) only monopolistically competitive firms advertise.
• B) only monopolistically competitive firms can earn economic losses in the short-run.
• C) only perfectly competitive firms maximize profits where marginal revenue equals marginal cost.
• D) only perfectly competitive firms are characterized by long-run economic profits of zero.

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Definitions:

Directive Leadership

A leadership approach where the leader provides clear instructions and expectations, and closely supervises tasks.

Internal Locus of Control

The belief that individuals control their own fate and outcomes through their actions and decisions.

Participative Leadership

A leadership style that involves employees or team members in the decision-making process to encourage engagement and commitment.

Supportive Behaviors

Actions by an individual or leader that provide assistance, encouragement, or comfort to others.