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True and False Also correct the false answers: 1. The firm operates in a long-run production period where labor is variable, capital is fixed. (True/False) 2. The main difference between perfect competition and monopolistic competition is the degree of product differentiation. (True/False) 3. Coordination costs arise because of uncertainty and complexity of tasks. (True/False)

True and False Also correct the false answers: 1. The firm operates in a long-run production period where labor is variable, capital is fixed. (True/False) 2. The main difference between perfect competition and monopolistic competition is the degree of product differentiation. (True/False) 3. Coordination costs arise because of uncertainty and complexity of tasks. (True/False)

ECON MICRO
ECON MICRO
5th Edition
ISBN:9781337000536
Author:William A. McEachern
Publisher:William A. McEachern
Chapter10: Monopolistic Competition And Oligopoly
Section: Chapter Questions
Problem 1.3P
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True and False Also correct the false answers:

1. The firm operates in a long-run production period where labor is variable, capital is fixed. (True/False)

2. The main difference between perfect competition and monopolistic competition is the degree of product differentiation. (True/False)

3. Coordination costs arise because of uncertainty and complexity of tasks. (True/False)

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