In long-run equilibrium, a firm in monopolistic competition makes
A) an economic profit but the economic profit is less than it would be if the firm was a monopoly.
B) an economic profit that is higher than what it would be if the firm was a monopoly.
C) zero economic profit.
D) an economic profit that is the same amount as it would be if the firm was a monopoly.
Correct Answer:
Verified
Q154: When new firms enter a monopolistically competitive
Q155: In the long-run, a firm in monopolistic
Q156: If firms in a monopolistically competitive industry
Q157: In the long run, a monopolistically competitive
Q158: If firms monopolistically competitive firms are making
Q160: Which of the following is TRUE regarding
Q161: A firm has excess capacity if its
Q162: In the long run, a monopolistically competitive
Q163: A monopolistically competitive firm is similar to
A)
Q164: In the long-run, a firm in monopolistic
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