In a Monopolistically Competitive Market, the Number of Firms Adjusts

question 199

True/False

In a monopolistically competitive market, the number of firms adjusts until economic profits are driven to zero.

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Definitions:

Spreads

Refers to the difference between two measurements, such as bid and ask prices in trading, or to the expansion of an entity or idea across different areas.

Equal Ability

The concept that individuals or groups possess the same level of skill, talent, or capability in a particular area or in general.

Variety Of Conditions

A broad spectrum or range of circumstances, situations, or health disorders.

Repeatedly

Doing something over and over again.