Which of the following statements is false?
A)Like a competitive firm, a monopolistically competitive firm makes a normal profit in the long run.
B)Monopoly and competition are alike in that there is little or no product variety in either type of market.
C)Monopoly and monopolistic competition result in average total cost above the minimum.
D)Monopolistic competition and competition both produce a variety of products as a result of many firms.
E)A monopoly and a monopolistically competitive firm both result in a deadweight loss.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements is false?
A)Like a competitive firm, a monopolistically competitive firm makes a normal profit in the long run.
B)Monopoly and competition are alike in that there is little or no product variety in either type of market.
C)Monopoly and monopolistic competition result in average total cost above the minimum.
D)Monopolistic competition and competition both produce a variety of products as a result of many firms.
E)A monopoly and a monopolistically competitive firm both result in a deadweight loss.

Which of the Following Statements Is False