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11 Dec 2019
Is zero economic profit inevitable in the long run for monopolistically competitive firms?
A. will not continue to earn a profit because monopolistically competitive firms produce identical products.
B. will not continue to earn a profit because the cost of production will rise as new firms enter the market.
C. will continue to earn profit due to barriers to new firms entering the market.
D. may continue to earn profit by instead beginning to produce a product identical to competitors.
E. may continue to earn profit by convincing consumers their products are different.
Is zero economic profit inevitable in the long run for monopolistically competitive firms?
A. will not continue to earn a profit because monopolistically competitive firms produce identical products.
B. will not continue to earn a profit because the cost of production will rise as new firms enter the market.
C. will continue to earn profit due to barriers to new firms entering the market.
D. may continue to earn profit by instead beginning to produce a product identical to competitors.
E. may continue to earn profit by convincing consumers their products are different.
8
answers
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