Answer: underallocated because long-run equilibrium occurs where price exceeds marginal cost.
Explanation:
Monopolistic competition occurs when there are many firms that are producing products that are differentiated. It should also be noted that one typical characteristics of a monopolistic competition is a large number of firms coupled with low entry barriers.
It should be noted that in monopolistically competitive markets, resources are underallocated because long-run equilibrium occurs where price exceeds marginal cost..
The broker of record is ultimately responsible for determining the role a licensee is expected to play in any transaction.
When an insurance company pays an agent a monthly commission to manage and represent a policyholder's insurance policy, that agent is known as a broker of record. Two parts of this position include liaison work for the policyholder and communication.
A broker of record in the context of insurance is an agent chosen by the policyholder to represent and administer the policy. All correspondence to the policyholder may be copied by the broker of record, who may also accept quotations, policies, and notices on the policyholder's behalf. One of the most potent and frequently misused legal documents in the insurance sector is the Broker of Record (BOR) letter. Unfortunately, a lot of unethical brokers get uninsured people to sign this.
To know more about Broker of Record refer to: brainly.com/question/24278535
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Answer:
GDP or GLP
Explanation:
GDP afcorse GDP it is the correct answer and I am 100% I am sure