the long run, firms in monopolistic competition make zero economic profit because a) firms are free to enter and exit. b)their products are similar but slightly different. c)of over-reliance on product marketing. d)of collusion among the various sellers. e)their demand curves are horizontal.
the long run, firms in monopolistic competition make zero economic profit because a) firms are free to enter and exit. b)their products are similar but slightly different. c)of over-reliance on product marketing. d)of collusion among the various sellers. e)their demand curves are horizontal.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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In the long run, firms in monopolistic competition make zero economic profit because
a) firms are free to enter and exit.
b)their products are similar but slightly different.
c)of over-reliance on product marketing.
d)of collusion among the various sellers.
e)their demand curves are horizontal.
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