The monopolistic competitor differs from the competitive firm in that it: Select one: a. charges a price greater than the marginal cost; b. it has no demand curve. c. operates in an industry without free entry. d. can earn economic profit in the long run.

The monopolistic competitor differs from the competitive firm in that it: Select one: a. charges a price greater than the marginal cost; b. it has no demand curve. c. operates in an industry without free entry. d. can earn economic profit in the long run.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter26: Monopolistic Competition And Oligopoly

Section: Chapter Questions

Problem 10E

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Question

The monopolistic competitor differs from the competitive firm in that it:

Select one:

a. charges a price greater than the marginal cost;

b. it has no demand curve.

c. operates in an industry without free entry.

d. can earn economic profit in the long run.

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