Compared to the long run perfectly competitive market outcome, the long run monopolistic competition market outcome has O a. the same quantity, the same price, and a zero economic profit O b. a lower quantity, a higher price, and makes a zero economic profit Oc a higher quantity, a higher price, and makes positive economic profit O d. the same quantity, the same price and a positive economic profit
Compared to the long run perfectly competitive market outcome, the long run monopolistic competition market outcome has O a. the same quantity, the same price, and a zero economic profit O b. a lower quantity, a higher price, and makes a zero economic profit Oc a higher quantity, a higher price, and makes positive economic profit O d. the same quantity, the same price and a positive economic profit
Chapter10: Monopolistic Competition And Oligopoly
Section: Chapter Questions
Problem 1.2P
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