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ECON-1010-D1/D2-Introduction to Microeconomics

ECON-1010-D1/D2-Introduction to Microeconomics

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In monopolistic competition, firms can make an economic profit in

the short run but not in the long run.

100%

always in the short run and sometimes but not frequently in the long run.

the short run and in the long run.

the long run but not in the short run.

neither the short run nor the long run.

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For a firm in monopolistic competition, the marginal cost curve intersects the average total cost curve

to the right of the minimum average total cost.

to the left of the minimum average total cost.

at the minimum average total cost.

at the same quantity at which the marginal cost curve intersects the marginal revenue curve.

at no point.

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