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Author Question: Monopolistic competition is defined as a type of market structure where A) many firms produce the ... (Read 107 times)

brutforce

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on: Jun 29, 2018
Monopolistic competition is defined as a type of market structure where
 
  A) many firms produce the good.
  B) firms produce a homogeneous good.
  C) there are barriers to entry.
  D) firms can earn positive profit in the long run.

Question 2

Monopolists
 
  A) maximize revenue, not profits.
  B) have no short-run fixed costs.
  C) face downward sloping demand curves.
  D) are price takers.


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yotaSR5

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


brutforce

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

lkanara2

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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