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Author Question: A monopolistically competitive firm maximizes profit by producing where marginal revenue equals marginal cost. (Read 253 times)

laurencescou

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Question 1

In long-run equilibrium for a monopolistically competitive industry,


◦ all firms earn a profit.
◦ all firms break even.
◦ all firms suffer losses.
◦ firms can earn a profit, suffer a loss, or break even.

Question 2

A monopolistically competitive firm maximizes profit by producing where marginal revenue equals marginal cost.


◦ true
◦ false


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Marked as best answer by laurencescou on Apr 19, 2019

katara

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laurencescou

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Reply 2 on: Apr 19, 2019
Excellent


mochi09

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Reply 3 on: Yesterday
:D TYSM

 

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