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Loraine Loraine
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8 years ago
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.
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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8 years ago
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Loraine Author
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8 years ago
Smart ... Thanks!
Ctownsend
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Yesterday
This calls for a celebration Person Raising Both Hands in Celebration
Liarec
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2 hours ago
Thank you, thank you, thank you!
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