Which one of the following characteristics is shared by perfect competition and monopolistic competition?
A) Firms face a downward-sloping demand curve.
B) Profit-maximizing quantity occurs where MC = MR.
C) Long-run equilibrium price equals minimum ATC.
D) Firms make an economic profit in the long run.
E) Demand is perfectly elastic.
Correct Answer:
Verified
Q80: A firm has excess capacity if it
A)produces
Q81: In the long-run,a firm in monopolistic competition
Q82: When firms in monopolistic competition incur an
Q83: Use the figure below to answer the
Q84: Which one of the following characteristics is
Q86: Use the figure below to answer the
Q87: For a firm in monopolistic competition,the marginal
Q88: Use the figure below to answer the
Q89: Choose the correct statement about firms in
Q90: Firms in monopolistic competition make zero economic
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents