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Question 24

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Use the following to answer questions below:    -Which of the following is a characteristic of both monopolistic competition and monopoly? A)  Firms face significant barriers to entry. B)  A firm's marginal revenue curve is below its demand curve. C)  In the long run, a firm will earn zero economic profit. D)  In the long run, a firm will produce a level of output that corresponds to the minimum point of its average total cost curve.
-Which of the following is a characteristic of both monopolistic competition and monopoly?


A) Firms face significant barriers to entry.
B) A firm's marginal revenue curve is below its demand curve.
C) In the long run, a firm will earn zero economic profit.
D) In the long run, a firm will produce a level of output that corresponds to the minimum point of its average total cost curve.

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