The modern day country of India gained its independence mostly in a peaceful manner. Led by Gandhi, the people of India were getting out on protests constantly for a prolonged period of time. Great Britain, weakened from the wars, saw that it will not be able to control this massive country and massive population, so a decision was made that an independence is granted to India. The way in which the independence came did not came to a very positive reaction, the reason being that the historic territory was divided into three separate countries, largely based on religion, with Pakistan and Bangladesh being the two separated territories. The joy of freedom was quickly replaced by numerous conflicts based mostly on religion, with the Hindu and Muslim populations clashing with each other, and millions of people suffering because of it.
Answer:
Among the options given on the question the correct answer is option C.
Slightly above their costs in the long run.
Explanation: The monopolistic competitive firms are those who produce the similar products and service but without perfect substitute. The monopolistic firms are closely related with the business strategy of brand differentiation. Basically, the monopolistic competition is the combine of monopoly and perfect market. The monopolistic competition don't have the the power to control the market price like the monopoly system.
When the profit matter comes to the business, the monopolistic firms earn profits slightly above their costs in the long run. Because barriers to entry are low, other firms have an incentive to enter the market, increasing the competition. As a result to survive in the market the profit margin gets lower. Therefore, they just make the profit above their costs.
