The monopolistic competitive firm will most likely earn a normal profit in the long run because of
A) product differentiation.
B) many buyers and sellers.
C) easy entry and exit.
D) high barriers to entry.
Correct Answer:
Verified
Q85: The monopolistic competitor is a price
A)taker, because
Q91: Exhibit 24-3 Q92: Which of the following is not correct Q93: If a market is contestable, then Q95: Concentration ratios are used to determine Q97: In the prisoner's dilemma, each prisoner would Q97: The monopolistic competitor's demand curve is Q99: It has been argued that as a Q100: Exhibit 24-3 Q115: For a monopoly firm, price is _
A)a cartel
A)the number
A)perfectly elastic
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