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Author Question: The diagram below shows selected cost and revenue curves for a firm in a monopolistically ... (Read 19 times)

gjjjjjdkkkkk3k3k33k

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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. If this firm is maximizing its profits, does the diagram depict a long-run equilibrium situation?


◦ Yes, because this firm is producing where MC = MR and is earning economic profits.
◦ Yes, because this firm is producing where MC = MR and is earning zero profits.
◦ No, because this firm is a natural monopoly.
◦ No, because this firm is suffering losses and firms will exit this market.
◦ No, because this firm is earning profits which will attract new firms to this market.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by gjjjjjdkkkkk3k3k33k on Oct 12, 2022

ellie

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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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gjjjjjdkkkkk3k3k33k

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

tranoy

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Reply 3 on: Yesterday
Excellent

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