Match each of the terms on the left with its definition on the right. Click on the term first and then click on the matching definition. As you match them correctly they will move to the bottom of the activity.
Monopolistic competition Zero-profit equilibrium Excess capacity Brand name | an economic balance in which each f irm makes zero prof it at its prof it-maximizing quantity. a market structure in which there are many competing producers in an industry, each producer sells a differentiated product, and there is free entry and exit into and from the industry in the long run. the failure to produce enough to minimize average total cost; characteristic of monopolistically competitive firms. a name owned by a particular firm that distinguishes its products from those of other firms. |