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Author Question: Monopolistically competitive firms prevent the efficient use of resources because in long-run equilibrium (Read 74 times)

SGallaher96

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Question 1

In long-run monopolistically competitive equilibrium, there can be


◦ economic profits, but not losses.
◦ economic profits or losses.
◦ no economic profits, but losses.
◦ neither economic profits nor losses.

Question 2

Monopolistically competitive firms prevent the efficient use of resources because in long-run equilibrium


◦ price is less than marginal cost.
◦ price is greater than marginal cost.
◦ price equals marginal cost.
◦ marginal cost is greater than average total cost.


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Marked as best answer by SGallaher96 on Apr 19, 2019

ryrychapman11

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