Which of these types of firms can earn a positive economic profit in the long run?
A) monopolies, but not competitive firms or monopolistically competitive firms
B) monopolies and monopolistically competitive firms, but not competitive firms
C) monopolies, monopolistically competitive firms, and competitive firms
D) No firms earn positive economic profit in the long run. Entry will reduce all firms' economic profit to zero in the long run.
Correct Answer:
Verified
Q223: In a long-run equilibrium,
A)only a perfectly competitive
Q390: In the long run,
A)monopolistically competitive firms earn
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Q393: A firm has the following cost structure:
Q394: When a monopolistically competitive firm is in
Q396: Suppose that monopolistically competitive firms in a
Q398: A firm has the following cost structure:
Q399: Among the following situations, which one is
Q400: A monopolistically competitive firm is currently earning
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