In monopolistically competitive industries
A) entry and exit push economic profits toward zero.
B) there is no diversity of products.
C) firms do not respond to changes in demand.
D) firms produce where marginal cost equals the marginal benefit to the consumers.
Correct Answer:
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Q140: Q141: In a monopolistically competitive industry Q142: Which of the following is TRUE regarding Q143: Which of the following is TRUE regarding Q144: In the long run, in monopolistic competition Q146: If in monopolistic competition in the short Q147: In the long run, all firms in Q148: In the long run, a firm in Q149: In the long run, monopolistically competitive firms Q150: A monopolistically competitive firm is making a
A) firms can
A)
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