As long as firms currently in a monopolistically competitive market are earning profits:
A) more firms will leave the market before the profits are competed away.
B) the government will step in to regulate prices to ensure they stay competitive.
C) the firm will lower its price to keep out competitors.
D) more firms will enter the market with products that are close substitutes.
Correct Answer:
Verified
Q38: These are the cost and revenue curves
Q39: Product differentiation refers to:
A) firms who offer
Q40: _ is about the number of firms,and
Q41: Firms have incentive to enter a monopolistically
Q42: If a monopolistically competitive firm is earning
Q44: If firms in a monopolistically competitive market
Q45: If a monopolistically competitive firm's demand curve
Q46: These are the cost and revenue curves
Q47: In the short run,monopolistically competitive firms will
Q48: In the short run,monopolistically competitive firms:
A) can
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents