This figure depicts a situation in a monopolistically competitive market. MC ATC PRICE 100 8 882 889 229 90 80 70 60 50 Demand MR 10 20 30 40 50 60 70 80 90 100 QUANTITY Which of the following will occur in the long-run in this industry? Firms will exit this industry. This firm will incur losses. This firm will continue to earn positive economic profits. Firms will enter this industry. 40 10 30 20 身
This figure depicts a situation in a monopolistically competitive market. MC ATC PRICE 100 8 882 889 229 90 80 70 60 50 Demand MR 10 20 30 40 50 60 70 80 90 100 QUANTITY Which of the following will occur in the long-run in this industry? Firms will exit this industry. This firm will incur losses. This firm will continue to earn positive economic profits. Firms will enter this industry. 40 10 30 20 身
Chapter14: Monopolistic Competition And Product Differentiation
Section: Chapter Questions
Problem 10P
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