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Author Question: A monopolistically competitive firm and a monopoly are similar because (Read 89 times)

Tiffanyanne824

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A monopolistically competitive firm and a monopoly are similar because
◦ both firms always operate at their point of minimum average cost.
◦ they each face a downward-sloping demand curve.
◦ each firm has a large number of competitors.
◦ both firms must behave strategically toward other firms in the industry.
◦ both firms will earn zero profits in the long run.


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Marked as best answer by Tiffanyanne824 on Oct 12, 2022

DevinBrifm

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Tiffanyanne824

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it


ghepp

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

 

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