Monopolistic competition is similar to perfect competition for all of the following reasons except
A) both have many firms in each industry.
B) both have identical demand and marginal revenue curves.
C) both make zero economic profits in the long run.
D) both maximize profits at the output level where marginal revenue equals marginal costs.
Correct Answer:
Verified
Q28: Q83: A monopolistically competitive industry has Q84: The demand curve for monopolistic competitive firms Q85: Statement I: The trend toward customization is Q86: Which of the following is NOT an Q87: If this firm produced at its most Q89: Which statement is true? Q90: You could conclude that Q91: Monopolistic competition may lead to each of Q93: Which statement is true?
A)a differentiated product
A)Price discrimination eliminates all
A)new firms will enter
A)Only monopolists can truly
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