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Title: Which of the following is correct? Post by: Loraine on Jun 21, 2015 Which of the following is correct?
A) A firm in monopolistic competition does not have excess capacity in the long run. B) A firm in perfect competition operates at maximum average total cost in the long run. C) In the long run, a firm in monopolistic competition maximizes its profit at a point where price is equal to average total cost but the average total cost is not minimized. D) In the long run, a firm in monopolistic competition earns zero economic profit and its price is equal to the minimum average total cost. E) In the long run, a firm in monopolistic competition can earn an economic profit because of product differentiation. Title: Re: Which of the following is correct? Post by: VincenzoD on Jul 23, 2015 Content hidden
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