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21 Jun 2018
71) Suppose now that the firms products can be differentiated from each other, so that the industry is monopolistically competitive. In long run equilibrium with free entry, relative to the long run competitive equilibrium, each firm will: A) set price higher and quantity higher. B) set price lower and quantity higher. C) set price higher and quantity lower. D) set price lower and quantity lower. E) set price and quantity exactly the same.
71) Suppose now that the firms products can be differentiated from each other, so that the industry is monopolistically competitive. In long run equilibrium with free entry, relative to the long run competitive equilibrium, each firm will: A) set price higher and quantity higher. B) set price lower and quantity higher. C) set price higher and quantity lower. D) set price lower and quantity lower. E) set price and quantity exactly the same.
larryrambo777Lv10
15 Mar 2023
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Jamar FerryLv2
23 Jun 2018
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