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Northern Virginia Community College *

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202

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Economics

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Apr 3, 2024

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25 / 25 pts Question 1 Complete this statement: The Monopolistic Competitor is not allocatively efficient because and is not Productively efficient because NOTE: See list of similarities and differences between these two market structures in the correct answer feedback. Be prepared to list one or two similarities and/or differences on the short answer portion of the test Price > MC; Not producing at the min of ATC curve Price>AVC; Firm has excess capacity Price < MC; Firm producing at the min of ATC curve MR>MC; Firm does not have excess capacity COMMENTS FILES RUBRIC 1l O <
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