Which of the Following Is True About Monopolistic Competition but False

question 100

Multiple Choice

Which of the following is true about monopolistic competition but false about perfect competition?

• A)There is a large number of independently acting sellers.
• B)There are no barriers to entry.
• C)Firms can earn an economic profit in the short run.
• D)Firms compete on their product's price as well as its quality and marketing.
• E)Firms cannot earn an economic profit in the long run.

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Definitions:

Just Society

A societal ideal where fairness and equality are upheld, ensuring that all individuals have access to resources, opportunities, and justice irrespective of their background.

Kohlberg's Model

A developmental psychological theory that proposes stages of moral development through which individuals progress, indicating how moral reasoning matures over time.

Leadership Ethics

The moral guidelines and principles that govern the behavior and decision-making of leaders.

Ethical Leadership Theory

A concept that emphasizes the importance of leaders acting in an ethical manner and promoting ethical practices among their followers.