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Which of the Following Is True of Monopolistic Competition but Is

Question 14

Multiple Choice

Which of the following is true of monopolistic competition but is NOT true of perfect competition?


A) The firm has some control over price.
B) The firm faces a perfectly elastic demand curve.
C) In the long run, the firm will earn zero economic profit.
D) In the long run, the firm will charge a price equal to ATC.

Correct Answer:

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