Long-Run Profit Earned by a Monopolistically Competitive Firm Is Driven

question 566

Multiple Choice

Long-run profit earned by a monopolistically competitive firm is driven to the competitive level due to a(n)

• A)change in the technology that the firm utilizes.
• B)shift of its demand curve.
• C)shift of its supply curve.
• D)increase in the firm's average cost of production.

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Definitions:

Conscientiousness

A characteristic that denotes being hardworking, meticulous, and having the motivation to perform a job effectively.

Extroversion

A personality trait characterized by being outgoing, talkative, and energetic in social situations.

Neuroticism

A personality trait characterized by emotional instability, anxiety, moodiness, and a high degree of stress response.

Agreeableness

A personality trait characterized by attributes such as trust, altruism, kindness, and affection towards others.