Some monopolistic competitive firms earn positive economic profits in the long run because
A) there are high barriers to entry in monopolistic competition.
B) they have successfully differentiated their products from their competitors' products.
C) there is easy entry and exit.
D) each firm produces and sells a homogeneous product.
Correct Answer:
Verified
Q21: Which of the following is an example
Q22: Does the monopolistic competitive firm exhibit resource-allocative
Q33: Which of the following is one of
Q38: The profit-maximizing perfectly competitive firm charges a
Q38: Which of the following statements is false?
A)The
Q41: The percentage of sales accounted for by
Q42: In which market structure is the interdependence
Q47: There are few sellers and many buyers
Q57: A concentration ratio indicates the
A)number of firms
Q58: Which of the following statements is true?
A)Monopolistic
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