In the long run,economic profit earned by a monopolistically competitive firm _____
A) is zero because of the lack of barriers to entry.
B) is zero because of the production of homogenous goods.
C) may be positive because of strong barriers to entry.
D) may be positive because of product differentiation.
E) may be positive because of advertising and product promotion.
Correct Answer:
Verified
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Q44: Exhibit 10.5 Q46: Monopolistically competitive firms _ Q47: In the long run,a monopolistically competitive firm Q48: Suppose a monopolistically competitive firm is producing Q49: Exhibit 10.5 Q50: Exhibit 10.4 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
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A)are guaranteed to earn
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