Asked by
Shannon Gatewood
on Oct 12, 2024
Verified
In the long run the monopolistic competitor will be ____________.
A) making a profit
B) taking a loss
C) breaking even
D) None of the choices are correct.
Long Run
A period in which all factors of production and costs are variable, allowing for full adjustment to change.
- Understand the specific aspects and end results of a sustained equilibrium in monopolistic competition, marked by achieving a break-even condition and operating below the most effective level.
Verified Answer
SM
Learning Objectives
- Understand the specific aspects and end results of a sustained equilibrium in monopolistic competition, marked by achieving a break-even condition and operating below the most effective level.