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6 Oct 2020
The theory of monopolistic competition predicts that in long-run equilibrium, a monopolistically competitive firm will:
(a.) produce at the level in which price equals long-run average cost.
(b.) operate at minimum long-run average cost.
(c.) overutilize its insufficient capacity.
(d.) None of the above answers are correct.
The theory of monopolistic competition predicts that in long-run equilibrium, a monopolistically competitive firm will:
(a.) produce at the level in which price equals long-run average cost.
(b.) operate at minimum long-run average cost.
(c.) overutilize its insufficient capacity.
(d.) None of the above answers are correct.
Akhila KumaranLv4
28 Oct 2020
