Long-run equilibrium for a monopolistically competitive firm where economic profits are zero results from
A) rising marginal costs.
B) a perfectly elastic product demand curve.
C) relatively easy entry.
D) product differentiation and development.
Correct Answer:
Verified
Q42: Monopolistically competitive firms
A) realize normal profits in
Q43: Which of the following statements is correct?
A)
Q44: In long-run equilibrium, both purely competitive and
Q45: Answer the question on the basis
Q46: Excess capacity refers to the
A) amount by
Q48: In the long run, the price charged
Q49: In the long run, the price charged
Q50: Other things equal, if more firms enter
Q51: When a monopolistically competitive firm is in
Q52: For a monopolistically competitive firm in long-run
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