In the long run, a monopolistically competitive firm will
a. produce a greater variety of goods than do firms in other market structures
b. produce a greater output level than would a perfectly competitive firm
c. produce where price equals average total cost
d. earn an economic profit
e. suffer a loss because of its advertising budget
C
Economics
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The manager of a baseball team wants to hire a new pitcher for $4 million per year. Under what circumstances would it make sense for the team to do so?
What will be an ideal response?
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