If a monopolistically competitive firm is selling at a price below average total cost it is experiencing zero economic profits negative economic profits positive economic profits cannot be determined. O O O

if a monopolistic firm takes over a perfectly competaive market we would expect to see market price of the goof to fall because demand is perfectly eleastic rise and quantity is sold fall as the monopolist tries to increase sales  rise and the quantity sold to increase

A monopolistically competitive firm will benefit by spending some of its revenues advertising the product it produces. A True B False

A monopolistically competitive firm in a long-run equilibrium will likely produce which of the following?  A. a technically efficient amount of outputB. less than a technically efficient amount of output and less than an allocatively efficient amount of outputC. more than a technically efficient amount of output but less than an allocatively efficient amount of outputD. an allocatively efficient amount of production.E. less than a technically efficient amount of output and more than an allocatively efficient