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If a perfectly competitive firm and a monopolistic competitor in long run equilibrium face exactly ...

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If a perfectly competitive firm and a monopolistic competitor in long run equilibrium face exactly ...

If a perfectly competitive firm and a monopolistic competitor in long run equilibrium face exactly the same demand and cost curves, then there is high probability that

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the former will earn zero economic profits, but the latter will earn positive economic profits.

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both will earn zero economic profits, but the former will attain lower unit costs than the latter.

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both will earn zero economic profits, but the latter will attain lower unit costs than the former.

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both firms will earn zero economic profits, and attain the lowest possible unit costs.

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neither firm will earn zero economic profits, but both will attain the lowest possible unit costs.

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Economics

Edition: 12^th

Author: Arnold

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moraa

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More solutions for this book are available here

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Thanks for your help!!

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