In short run a firms in monopolistic competition
A) Always earns profit
B) Incurs loss
C) Earns normal profit only
D) May earn normal profit, abnormal profit or incur losses
Correct Answer:
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Q3: The book "The theory of Monopolistic Competition"
Q4: The book "The Economics of Imperfect Competition"
Q5: It is assumed that the cost curves
Q6: Free entry into monopolistically competitive market ensures
Q7: Under monopolistic competition, the long run equilibrium
Q9: In long run all the firms in
Q10: The short run equilibrium level of output
Q11: When a group of monopolistic competition attains
Q12: The elasticity of average revenue curve of
Q13: When demand curve is elastic, MR is
A)1
B)0
C)Positive
D)Negative
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