A firm in long- run equilibrium under monopolistic competition will earn
A) zero economic profits because of free entry.
B) positive oligopoly profits because each firm sells a differentiated product.
C) positive monopoly profits because each sells a differentiated product.
D) positive economic profit if it engages in international trade.
E) negative economic profits because it has economies of scale.
Correct Answer:
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Q15: International trade based on external scale economies
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