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msouthern msouthern
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5 years ago



Refer to the above figure. Which of the following statements about panel D in the figure is TRUE?

• The figure is in error since it doesn't show the monopolistic competitor making profits in the long run.

• The figure represents a long-run equilibrium for a monopolistic competitor.

• The figure represents an industry long-run equilibrium for monopolistic competition.

• The figure is in error since it has marginal cost intersecting the ATC curve at a point other than the minimum of ATC.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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swolfe15swolfe15
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5 years ago
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msouthern Author
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Helped a lot
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You make an excellent tutor!
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Just got PERFECT on my quiz
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