Due to low barriers to entry, monopolistic competitive firms can earn ____________ in the long run. Accounting profit but not economic profit. Economic profit but not accounting profit. Both economic profit and accounting profit. Neither economic profit nor accounting profit
Due to low barriers to entry, monopolistic competitive firms can earn ____________ in the long run. Accounting profit but not economic profit. Economic profit but not accounting profit. Both economic profit and accounting profit. Neither economic profit nor accounting profit
Chapter9: Monopolistic Competition And Oligoply
Section: Chapter Questions
Problem 3SQ
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Question
Due to low barriers to entry,
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Accounting profit but not economic profit. |
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Economic profit but not accounting profit. |
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Both economic profit and accounting profit. |
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Neither economic profit nor accounting profit. |
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