Title: The diagram below shows demand and cost curves for a monopolistically competitive firm.FIGURE ... Post by: 32264 on Oct 9, 2022 The diagram below shows demand and cost curves for a monopolistically competitive firm. ▸ expand its output in the long run. ▸ be making profits and new firms would enter the industry in the long run. ▸ be making losses and some firms would exit the industry in the long run. ▸ decrease costs in order to break even at P1 and Q1 in the long run. ▸ increase costs in order to break even at P1 and Q1 in the long run. Title: The diagram below shows demand and cost curves for a monopolistically competitive firm.FIGURE ... Post by: lpants on Oct 9, 2022 Content hidden
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