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caillacakes caillacakes
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5 years ago

Question 1.

As firms ________ a monopolistically competitive industry the demand and marginal revenue curves facing each firm begin to shift to the ________.



▸ expand in; right

▸ exit; left

▸ exit; right

▸ enter; right

Question 2.

For a monopolistically competitive firm ________ at the profit-maximizing quantity, the demand curve must be tangent to the average total cost curve.



▸ earning short-run profits

▸ suffering short-run losses

▸ to shut down

▸ in long-run equilibrium
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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kwashington67kwashington67
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5 years ago
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caillacakes Author
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5 years ago
Thank you
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