Which of the following is false?
A) Long-run equilibrium in monopolistic competition results in zero economic profits.
B) Monopolistic competitor's demand curves are likely to be more elastic than those of monopolists.
C) Monopolistic competition results in a greater variety of products than perfect competition.
D) Monopolistic competition's zero economic profit long-run equilibrium is efficient, like the zero profit equilibrium in perfect competition.
E) None of the above are false.
Correct Answer:
Verified
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