Table 16-3
This table shows the demand schedule,marginal cost,and average total cost for a monopolistically competitive firm.

-Refer to Table 16-3.Which of the following is likely to happen in the long run in this market?
A) The market is currently in a long-run equilibrium.
B) The market price is likely to fall.
C) Firms are likely to enter the market since firms are earning a positive economic profit.
D) Firms are likely to leave the market since firms are earning a negative economic profit.
Correct Answer:
Verified
Q272: Table 16-5
Traci's Hairstyling is one salon among
Q273: Table 16-3
This table shows the demand schedule,marginal
Q274: Table 16-5
Traci's Hairstyling is one salon among
Q275: Table 16-4
This table shows the demand schedule,marginal
Q276: Table 16-5
Traci's Hairstyling is one salon among
Q278: Table 16-5
Traci's Hairstyling is one salon among
Q279: Table 16-5
Traci's Hairstyling is one salon among
Q280: Table 16-4
This table shows the demand schedule,marginal
Q416: Under which of the following market structures
Q437: Both monopolistic competition and oligopoly are market
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