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sinerus sinerus
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6 years ago
Suppose Wave detergent is sold in a monopolistically competitive market. If the price of Wave detergent is currently $6, and the average cost of producing Wave is $4, in the long run we can expect
A) the producers of Wave to earn economic profits greater than zero.
B) the producers of Wave to go out of business.
C) firms to enter the detergent market and sell product similar to Wave, shifting the demand curve for Wave to the right.
D) firms to enter the detergent market and sell products similar to Wave, shifting the demand curve for Wave to the left.
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Survey of Economics: Principles, Applications and Tools

Survey of Economics: Principles, Applications and Tools


Edition: 6th
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Lightman030Lightman030
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