Which of the following is not a differenče between perfect competition and monopolistic competition? O The monopolistic competitor faces a downward sloping demand curve. O Long run economic profit. Excess capacity. Mark up over marginal cost.

Which of the following is not a differenče between perfect competition and monopolistic competition? O The monopolistic competitor faces a downward sloping demand curve. O Long run economic profit. Excess capacity. Mark up over marginal cost.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Which of the following is not a difference between perfect competition and monopolistic competition?
The monopolistic competitor faces a downward sloping demand curve.
O Long run economic profit.
O Excess capacity.
Mark up over marginal cost.
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