Which of the following is true at the long-run equilibrium in a monopolistically competitive market

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What is true of monopolistically competitive market in long run equilibrium?
Which of the following is true in long run equilibrium for a firm in monopolistic competition quizlet?
Which of the following is true under monopolistic competition in the long run?
What happens in the long run of monopolistic competition market?

Which of the following is not characteristic of monopolistic competition?

A.	relatively large numbers of sellers

B.	product differentiation

C.	production at minimum ATC in the long-run

D.	relatively easy entry to the industry

A monopolistically competitive industry combines elements of both competition and monopoly. It is correct to say that the competitive element results from:

A.	a relatively large number of firms and the monopolistic element from product differentiation.

B.	product differentiation and the monopolistic element from high entry barriers.

C.	a perfectly elastic demand curve and the monopolistic element from low entry barriers.

D.	a highly inelastic demand curve and the monopolistic element from advertising and product promotion.

The demand curve of a monopolistically competitive producer is:

A.	less elastic than that of either a pure monopolist or a purely competitive seller.

B.	less elastic than that of a pure monopolist, but more elastic than that of a purely competitive seller.

C.	more elastic than that of a pure monopolist, but less elastic than that of a purely competitive seller.

D.	more elastic than that of either a pure monopolist or a purely competitive seller.

R-1 F25030

Refer to the above diagram for a monopolistically competitive firm in short-run equilibrium. This firm's profit-maximizing price will be:

R-1 F25030

Refer to the above diagram for a monopolistically competitive firm in short-run equilibrium. The profit-maximizing output for this firm will be:

R-1 F25030

Refer to the above diagram for a monopolistically competitive firm in short-run equilibrium. This firm will realize an economic:

R-2 F25037

Refer to the above diagrams, which pertain to monopolistically competitive firms. Short-run equilibrium entailing economic loss is shown by:

D.	both diagrams a and c.

R-3 F25045

In long-run equilibrium the firm shown in the diagram above will:

D.	realize an economic profit.

R-3 F25045

In long-run equilibrium, production for the firm shown in the diagram above is:

A.	greater than would occur under pure competition.

B.	less efficient than in a purely competitive market.

C.	more efficient than in a purely competitive market.

10.

When a monopolistically competitive firm is in long-run equilibrium:

B.	MR = MC and minimum ATC > P.

C.	MR > MC and P = minimum ATC.

D.	MR = MC and P > minimum ATC.

11.

In monopolistically competitive markets resources are:

A.	overallocated because long-run equilibrium occurs where price exceeds marginal cost.

B.	underallocated because long-run equilibrium occurs where price exceeds marginal cost.

C.	overallocated because long-run equilibrium occurs where marginal cost exceeds price.

D.	underallocated because long-run equilibrium occurs where marginal cost exceeds price.

12.

In long-run equilibrium a monopolistically competitive firm will:

A.	earn an economic profit.

B.	realize all economies of scale.

C.	equate price and marginal cost.

D.	have excess production capacity.

This is the end of the test. When you have completed all the questions and reviewed your answers, press the button below to grade the test.

What is true of monopolistically competitive market in long run equilibrium?

What is true of a monopolistically competitive market in long-run equilibrium? Firms produce at the minimum of average total cost.

Which of the following is true in long run equilibrium for a firm in monopolistic competition quizlet?

Which of the following is true in long-run equilibrium for a firm in monopolistic competition? each firm's output level is too small to minimize average cost.

Which of the following is true under monopolistic competition in the long run?

Which of the following is true under monopolistic competition in the long run? Profits are always zero.

What happens in the long run of monopolistic competition market?

In the long run in monopolistic competition any economic profits or losses will be eliminated by entry or by exit, leaving firms with zero economic profit. A monopolistically competitive industry will have some excess capacity; this may be viewed as the cost of the product diversity that this market structure produces.

Which of the following is true at the long-run equilibrium in a monopolistically competitive market

What is true of monopolistically competitive market in long run equilibrium?

Which of the following is true in long run equilibrium for a firm in monopolistic competition quizlet?

Which of the following is true under monopolistic competition in the long run?

What happens in the long run of monopolistic competition market?

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