Which of the following is a difference between a monopoisticaly compettive market and a monopoly in the long run OA. Firms in a monopolistically competitive market eam zero economic profits in the long run, while a monopolist incurs losses in the long run ⒸB. Firms in a monpoistically competitive market change a price higher than marginal cost in the long ran, whie a monopolist charges a price equal to marginal rast in the long run OC. Fiams in a monopolistically competitive market cam oto otonomic profits in the long run, whilo a monapolist usually cars positive economic profils in the long run OD. Firms in a monopolistically compettive market charge a price lower than merginal cost in the long run, while a monopolist charges a price equal to merginal cost in the long run
Which of the following is a difference between a monopoisticaly compettive market and a monopoly in the long run OA. Firms in a monopolistically competitive market eam zero economic profits in the long run, while a monopolist incurs losses in the long run ⒸB. Firms in a monpoistically competitive market change a price higher than marginal cost in the long ran, whie a monopolist charges a price equal to marginal rast in the long run OC. Fiams in a monopolistically competitive market cam oto otonomic profits in the long run, whilo a monapolist usually cars positive economic profils in the long run OD. Firms in a monopolistically compettive market charge a price lower than merginal cost in the long run, while a monopolist charges a price equal to merginal cost in the long run
Chapter14: Monopolistic Competition And Product Differentiation
Section: Chapter Questions
Problem 10P
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![Which of the following is a difference between a monopolistically compettive market and a monopoly in the long run?
OA. Firms in a monopolistically competitive market eam zero economic profits in the long run, while a monopolist incurs losses in the long run.
B. Firms in a monopolistically competitive market charge a price higher than marginal cast in the long run, while a monopolist charges a price equal to marginal cast in the long run
OC. Firms in a monopolistically competitive market car zero economic profits in the long run, while a monopolist usually carns positive economic profits in the long run.
OD. Firms in a monopolistically competitive market charge a price lower than merginal cost in the long run, while a monopolist charges a price equal to merginel cost in the long run.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Faaddc3fc-ec97-4ca6-aaae-bb996b719b45%2F688f8a3e-0755-4ff5-9ab6-fa119b5e15fa%2F0ry0v0q.jpeg&w=3840&q=75)
Transcribed Image Text:Which of the following is a difference between a monopolistically compettive market and a monopoly in the long run?
OA. Firms in a monopolistically competitive market eam zero economic profits in the long run, while a monopolist incurs losses in the long run.
B. Firms in a monopolistically competitive market charge a price higher than marginal cast in the long run, while a monopolist charges a price equal to marginal cast in the long run
OC. Firms in a monopolistically competitive market car zero economic profits in the long run, while a monopolist usually carns positive economic profits in the long run.
OD. Firms in a monopolistically competitive market charge a price lower than merginal cost in the long run, while a monopolist charges a price equal to merginel cost in the long run.
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