Because Economic Profits Are Eliminated in the Long Run in Monopolistic

question 66

Multiple Choice

Because economic profits are eliminated in the long run in monopolistic competition,to make an economic profit,firms continuously

• A) shut down.
• B) exit the industry.
• C) develop and market new products.
• D) declare bankruptcy.
• E) decrease their costs by decreasing their selling costs.

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Definitions:

Tax Policy Advice

Involves recommendations and analyses provided by experts to guide governments or organizations in formulating effective and equitable tax strategies.

Cause and Effect

The relationship between events where one is the result of the other or others.

Coffee

A beverage made by brewing the roasted seeds of the Coffea plant's berries, known as coffee beans.

Sleep

A natural state of rest during which an individual's consciousness is altered and the body can recover and repair.