Firms in which type of market make zero economic profit in the long run?
A) perfect competition and monopolistic competition
B) monopoly
C) perfect competition
D) monopolistic competition
Correct Answer:
Verified
Q48: A monopolistically competitive industry has
A) significant barriers
Q49: Product differentiation is a defining characteristic of
A)
Q50: A product that is a close substitute
Q51: Product differentiation exists within an industry if
A)
Q52: One difference between perfect competition and monopolistic
Q54: Brand names are an example of
A) economies
Q55: A monopolistically competitive firm and a monopoly
Q56: Firms in monopolistic competition can achieve product
Q57: Firms in monopolistic competition make products that
Q58: Brand name drugs are chemically identical to
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