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coralox210Lv1
28 Sep 2019
Which of the following statements best describes firms under monopolistic competition?
a. Marginal revenue equals minimum average total cost in the short run.
b. Price always equals average variable cost.
c. In the long run, positive economic profit will be eliminated.
d. Profits will be positive in the long run.
Which of the following statements best describes firms under monopolistic competition?
a. Marginal revenue equals minimum average total cost in the short run.
b. Price always equals average variable cost.
c. In the long run, positive economic profit will be eliminated.
d. Profits will be positive in the long run.
Chika IlonahLv10
28 Sep 2019
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