Which of the following is NOT similar between monopolistic competition and perfect competition?
A) Many firms compete in the market.
B) It's easy to enter the market.
C) The firms have downward sloping demand curves.
D) The firms might incur economic losses in the short run.
E) In the long run,the firms earn zero economic profit.
Correct Answer:
Verified
Q114: Oligopoly is
A) always efficient.
B) efficient only if
Q163: Q169: Q171: The darkened area in the figure above Q174: The clothing industry has many firms with Q178: The darkened area in the figure above Q222: When the firm in the figure above Q224: To maximize its profit,the firm in the Q229: When duopoly games are repeated and a Q231: The firm illustrated above is
A)earning an economic
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