In long run all the firms in the 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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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
Q8: In short run a firms in monopolistic
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
Q14: The best or optimum level of output
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