Excess capacity is defined as the difference between a firm's maximum possible output and its actual output.
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Q93: As new monopolistically competitive firms enter the
Q94: Exhibit 10-12 Q95: In the long run in monopolistic competition, Q96: As a result of the economic profit Q97: Monopolistically competitive firms Q99: Which of the following is true of Q100: In the long run, economic profit for Q101: Which of the following characteristics does perfect Q102: Although both perfectly competitive and monopolistically competitive Q103: Excess capacity typically occurs
A)are guaranteed to earn short-run
A)in the short run
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