In a monopolistically competitive market,product differentiation ensures that in the long run
A) price will equal marginal cost.
B) marginal revenue will exceed marginal cost.
C) marginal revenue will equal average total cost.
D) price will exceed marginal revenue.
Correct Answer:
Verified
Q1: What causes firms to want to enter
Q3: No barriers to entry in a market
Q4: What encourages firms to enter markets?
A) The
Q5: A monopolistically competitive market is characterized by
A)
Q6: On South Street in Philadelphia,there are many
Q7: Which of the following characteristics is shared
Q8: Which of the following characteristics is shared
Q9: Assume that there is a single firm
Q10: Positive economic profit encourages new firms to
Q11: As a result of product differentiation,a firm
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