Which of the Following Is Correct

question 206

Multiple Choice

Which of the following is correct?

• A) A firm in monopolistic competition does not have excess capacity in the long run.
• B) A firm in perfect competition operates at maximum average total cost in the long run.
• C) In the long run, a firm in monopolistic competition maximizes its profit at a point where price is equal to average total cost but the average total cost is not minimized.
• D) In the long run, a firm in monopolistic competition makes zero economic profit and its price is equal to the minimum average total cost.
• E) In the long run, a firm in monopolistic competition can make an economic profit because of product differentiation.

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Definitions:

Brachial Plexus

A network of nerves that originates in the neck region and supplies nerve energy to the shoulders, arm, forearm, hand, and fingers.

Phrenic

Pertaining to the phrenic nerve, which controls the diaphragm and plays an essential role in breathing.

Musculocutaneous

A nerve in the arm that innervates the biceps, brachialis, and coracobrachialis muscles.

Axillary

Pertaining to the armpit area.