Product differentiation in monopolistically competitive markets implies that:
a. firms make economic profits in the long run
b. firms will produce at the minimum of the average total cost curve in the long run.
c. individual firms face downward-sloping demand curves.
d. firms are certain to earn economic profits in the short run.
c
Economics
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a. True b. False Indicate whether the statement is true or false
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Macroeconomics does not study this aggregate
A. GDP. B. inflation. C. happiness. D. unemployment.
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