A Monopolistically Competitive Firm Is Inefficient Because the Firm

question 152

Multiple Choice

A monopolistically competitive firm is inefficient because the firm

• A) earns positive economic profit in the long run.
• B) is producing at an output amount that corresponds to marginal cost equal to price.
• C) is not maximizing its profit.
• D) produces an output where average total cost is not minimum.
• E) produces where price is equal to minimum average total cost.

---

Definitions:

Assessment Phase

The initial stage in many professional and therapeutic processes where information is gathered to understand the current situation, needs, and strengths of individuals or groups.

Planning Process

The systematic approach to setting goals, developing strategies, and outlining tasks and schedules to achieve the desired results.

Prevention Intervention

Prevention intervention involves strategies or actions designed to stop a problem before it occurs, focusing on reducing risks and enhancing protective factors.

Macro Practice

Social work practice focused on large-scale social systems and communities to effect change.