If ATC>P, then a profit maximizing firm in a monopolistically competitive marketeconomic profits.earnsO positiveO zeroeither positive or negativenegative

Monopolistically competitive market refers to the market where many firms exist in the market and…

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If ATC>P, then a profit maximizing firm in a monopolistically competitive market earns economic profits. positive zero either positive or negative.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter10: Monopolistic Competition And Oligopoly

Section: Chapter Questions

Problem 9RQ: If the firms in a monopolistically competitive market are earning economic profits or losses in the...

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If ATC>P, then a profit maximizing firm in a monopolistically competitive market
economic profits.
earns
O positive
O zero
either positive or negative
negative

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