Which statement is true?
A) Product differentiation can take place even if there are no physical differences among products.
B) Price discrimination is not possible in monopolistically competitive firms.
C) Economies of scale ensure that monopolistically competitive firms make a profit in the long run.
D) The absence of barriers to entry ensures short-run profits for monopolistic competitors.
Correct Answer:
Verified
Q111: You could conclude that
A)new firms will enter
Q112: Monopolistic competition is similar to perfect competition
Q113: Which of the following would not be
Q114: Statement I: Monopolistic competitors are usually very
Q115: An industry that has many firms producing
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