7 Electric and water utilities are examples of firms that are monopolistically competitive.TrueO FalseDQuestion 16If a monopolistically competitive firm has an economic profit in the short run, more firms will enterthe industry until the firm eventually has zero economic profit.TrueFalseQuestion 12Perfectly competitive firms cannot use price discrimination to increase their profits.TrueFalse

Answer (15): Electric and water utilities are examples of monopoly markets. Since these require…

Electric and water utilities are examples of firms that are monopolistically competitive. O True O False Question 16 If a monopolistically competitive firm has an economic profit in the short run, more firms will ente: the industry until the firm eventually has zero economic profit. O True O False Question 12 Perfectly competitive firms cannot use price discrimination to increase their profits. O True O False

Electric and water utilities are examples of firms that are monopolistically competitive. O True O False Question 16 If a monopolistically competitive firm has an economic profit in the short run, more firms will ente: the industry until the firm eventually has zero economic profit. O True O False Question 12 Perfectly competitive firms cannot use price discrimination to increase their profits. O True O False

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter14: Monopolistic Competition And Product Differentiation

Section: Chapter Questions

Problem 5P

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