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Loraine Loraine
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9 years ago
If a firm in monopolistic competition is earning an economic profit,
A) it is in the long run.
B) other firms can enter the market.
C) it can do so because it is "monopolistic" and other firms will have a hard time competing with it.
D) its average cost must exceed its marginal cost.
E) The question errs because firms in monopolistic competition cannot earn an economic profit.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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VincenzoDVincenzoD
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9 years ago
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