6. In the long run, firms in monopolistic competition profits because a. each firm produces a small share of total market output b. each firm produces a standardized product c. firms do not equate marginal cost and marginal revenue in the long run d. there is only one seller in the market e. entry of new firms eliminate profits
6. In the long run, firms in monopolistic competition profits because a. each firm produces a small share of total market output b. each firm produces a standardized product c. firms do not equate marginal cost and marginal revenue in the long run d. there is only one seller in the market e. entry of new firms eliminate profits
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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