Within a monopolistically competitive industry, it would be expected that Group of answer choices firms will make a positive economic profit in the long-run. in the long-run, a typical firm’s price is greater than their average cost. in the short-run, an innovative firm’s price is greater than their average cost.
Within a monopolistically competitive industry, it would be expected that Group of answer choices firms will make a positive economic profit in the long-run. in the long-run, a typical firm’s price is greater than their average cost. in the short-run, an innovative firm’s price is greater than their average cost.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Within a monopolistically competitive industry, it would be expected that
Group of answer choices
firms will make a positive economic profit in the long-run.
in the long-run, a typical firm’s price is greater than their average cost.
in the short-run, an innovative firm’s price is greater than their average cost.
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