If this is monopolistic competition we know that: Supporting Materials Price MC FJL N Quantity WATC Demand There will be no entry or exit as the graph illustrates long run equilibrium There will be exit which will lower demand There will be entry which will lower MR There will be entry which will raise ATC There will be exit which will raise ATC

If this is monopolistic competition we know that: Supporting Materials Price MC FJL N Quantity WATC Demand There will be no entry or exit as the graph illustrates long run equilibrium There will be exit which will lower demand There will be entry which will lower MR There will be entry which will raise ATC There will be exit which will raise ATC

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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