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12 Dec 2019
Monopolistically competitive firms:
A. incur losses in both the short run and long run.
B. may realize either profits or losses in the short run, but realize normal profits (zero economic profits) in the long run.
C. realize economic profits in both the short run and long run.
D. realize normal profits (zero economic profits) in the short run but losses in the long run.
Monopolistically competitive firms:
A. | incur losses in both the short run and long run. | |
B. | may realize either profits or losses in the short run, but realize normal profits (zero economic profits) in the long run. | |
C. | realize economic profits in both the short run and long run. | |
D. | realize normal profits (zero economic profits) in the short run but losses in the long run. |
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