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Author Question: A monopolistically competitive firm is like a monopoly firm insofar as A) both face perfectly ... (Read 117 times)

stock

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A monopolistically competitive firm is like a monopoly firm insofar as
 
  A) both face perfectly elastic demand.
  B) both earn an economic profit in the long run.
  C) both have MR curves that lie below their demand curves.
  D) neither is protected by high barriers to entry.

Question 2

A cartel is a group of firms which agree to
 
  A) behave competitively.
  B) raise the price of their product.
  C) lower the price of their product.
  D) increase the amount they produce.



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scottmt

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Answer to Question 1

C

Answer to Question 2

B




stock

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review


JCABRERA33

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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