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Author Question: The diagram below shows selected cost and revenue curves for a firm in a monopolistically ... (Read 54 times)

blinding37

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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 11-5

Refer to Figure 11-5. Which of the following best describes this industry if all firms have the same cost and revenue curves and are producing output of q0?


◦ Firms are incurring losses, and firms will exit this industry.
◦ Firms are earning zero profits, and there is no incentive for firms to enter or leave the industry.
◦ All firms are earning positive profits, and there is no incentive for firms to enter or exit the industry.
◦ All firms will try to minimize costs and move toward minimum LRAC.
◦ Firms are earning positive profits, and new firms will enter the industry until all firms are operating at their minimum LRAC.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by blinding37 on Oct 12, 2022

ElaneShive

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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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blinding37

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

jojobee318

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Reply 3 on: Yesterday
Excellent

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