The entry and exit of firms in a monopolistically competitive market guarantees that:
A) economic profits and economic losses disappear in the long run
B) economic profits can survive in the long run, but not economic losses
C) economic losses will exist in the long run, but not economic profits
D) both economic profits and economic losses will exist in the long run
Correct Answer:
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Q66: Graph 17-2 Q67: In the long-run equilibrium, a monopolistically competitive Q68: Graph 17-2 Q69: Graph 17-3 Q70: A monopolistically competitive firm chooses: Q72: Graph 17-3 Q73: When firms are encouraged to enter monopolistically 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![]()
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A)price, but output![]()