You can conclude that
A) new firms will enter the industry.
B) existing firms will leave the industry.
C) the industry is in long run equilibrium.
D) it is unclear whether the industry is in the short run or the long run.
Correct Answer:
Verified
Q30: This firm maximizes profits (or minimizes losses)by
Q31: Which of the following is NOT a
Q32: Long-run equilibrium for firms in monopolistically competitive
Q33: Through product differentiation,firms attempt to increase the
A)demands
Q34: Which of the following is a likely
Q36: When a business such as an airline
Q37: If a monopolistically competitive firm is making
Q38: Monopolistic competition is similar to a monopoly
Q39: Which statement is true?
A)There are many firms
Q40: When a monopolistically competitive industry is in
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