Consider Monopoly, Monopolistic Competition, and Perfect Competition

question 141

Multiple Choice

Consider monopoly, monopolistic competition, and perfect competition. In which of these three market structures does a profit-maximizing firm experience zero economic profit?

• A)perfect competition only
• B)perfect competition and monopolistic competition only
• C)perfect competition, monopolistic competition, and monopoly
• D)The answer cannot be determined without knowing whether the market is in the long run or short run.

---

Definitions:

3D Secure Protocol

A security protocol designed to provide an additional layer of security for online credit and debit card transactions, often involving a password or OTP.

Transport Layer Security

A cryptographic protocol designed to provide communications security over a computer network, commonly used for internet security.

HTTP Protocol

Hypertext Transfer Protocol, the foundation of data communication for the World Wide Web, facilitating the transfer of hypermedia documents.

Search Queries

Text inputs submitted by users to search engines or databases to retrieve specific information or results.