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Author Question: In the table above, the firm producing the product is A) a monopoly. B) an oligopoly. C) a ... (Read 45 times)

CORALGRILL2014

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on: Jun 29, 2018
In the table above, the firm producing the product is
 
  A) a monopoly.
  B) an oligopoly.
  C) a duopoly.
  D) perfectly competitive.

Question 2

How is a monopolistically competitive firm similar to a perfectly competitive firm?
 
  A) Both will observe entry into the industry if economic profit is positive.
  B) Both produce where average total cost equals marginal cost.
  C) Both make a positive economic profit in the long run.
  D) Both produce a homogeneous good.


canderson530

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


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