The long- run equilibrium outcomes in monopolistic competition and perfect competition are similar, because in both market structures:
A) firms will only earn a normal profit
B) the efficient output level will be produced in the long run
C) firms realise all economies of scale
D) firms will be producing at minimum average cost
Correct Answer:
Verified
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A) any type
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Q29: Which of the statements below is true?
A)
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Q32: Which of the following is a characteristic
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Q35: Which of the following is NOT an
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