In the long run,a monopolistically competitive firm produces a quantity that is which of the following

Question

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In the long run, a monopolistically competitive firm produces a quantity that is less than the efficient scale. This is because monopolistically competitive firms have some market power, which allows them to charge a price above marginal cost. However, they still face competition from other firms, which limits their ability to raise prices too high. As a result, they produce less than the efficient scale to maintain their market power and earn economic profits.

In the Long Run,a Monopolistically Competitive Firm Produces a Quantity