If there are a large number of firms in a monopolistically competitive industry
A) the country in which the firms are located can be expected to export the goods they produce.
B) long-run profit will be equal to zero.
C) there will be a small number of firms that are very large and the rest will be very small.
D) the firms will converge production on a standardized product.
E) there will be barriers to entry that prevent additional firms from entering the industry.
Correct Answer:
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B)
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