Why is a profit-maximizing firm in a monopolistically competitive market eager for another customer
A) to maintain the equality between price and marginal cost
B) to markup where price exceeds marginal cost?c to continue to operate at the efficient scale?d.to earn zero economic profits in the long run
Correct Answer:
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Q57: Figure 16-2 Q58: Figure 16-3 Q59: To maximize its profit,a monopolistically competitive firm Q60: When a profit-maximizing firm in a monopolistically Q61: Which statement defines business-stealing externality Q63: For profit-maximizing firms in a monopolistically competitive Q64: In the long run,a profit-maximizing firm in Q65: In a situation of long-run equilibrium,which statement Q66: Why is excess capacity undesirable Q67: When the loss from a business-stealing externality
A)It is the
A)It reduces product
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