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Author Question: The diagram below shows selected cost and revenue curves for a firm in a monopolistically ... (Read 40 times)

jany123

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on: Oct 12, 2022

The diagram below shows selected cost and revenue curves for a firm in a monopolistically competitive industry.



FIGURE 11-1

Refer to Figure 11-1. Which of the following statements best describes the path to long-run equilibrium for this firm?


◦ The firm will continue to earn its existing level of profits.
◦ Firms with similar cost structures will exit the industry until profits are zero.
◦ The firm will continue to earn its existing level of profits because it can prevent the entry of new firms to the market.
◦ The AC curve will shift down in the long run and profits for this particular firm will increase.
◦ New firms will enter, causing this firm's demand curve to shift to the left until its profits are eliminated.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by jany123 on Oct 12, 2022

dianagarcia

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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jany123

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

atrochim

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Reply 3 on: Yesterday
Excellent

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