In the Long Run,firms in Monopolistic Competition Make Zero Economic

question 55

Multiple Choice

In the long run,firms in monopolistic competition make zero economic profit.When firms make zero economic profit,in the long run they exit the industry.

• A) The first sentence is correct and the second sentence is incorrect.
• B) The first sentence is incorrect and the second sentence is correct.
• C) Both sentences are correct.
• D) Both sentences are incorrect.
• E) More information about the presence or absence of barriers to entry and exit is needed to determine if the statements are true or false.

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Definitions:

Contraindicated Position

A body position or posture that is advised against because it may be harmful or worsen a condition for a particular patient or in a specific situation.

Professional Standards

These are guidelines and criteria set by professional bodies that outline the ethical and performance expectations for individuals within a specific profession.

Clinical Decisions

The judgments and actions taken by healthcare professionals based on clinical knowledge and evidence to provide patient care.

Critical Thinking

The intellectual process of actively analyzing, synthesizing, evaluating, and reflecting on information gathered from observation, experience, or communication, to make informed judgments.