Monopolistic competition and perfect competition differ because
A) only monopolistically competitive firms will set MR = MC.
B) only perfectly competitive firms will set MR = MC.
C) only monopolistic competition allows for entry of other firms in the long run.
D) only competitive firms take the price as given.
D
Economics
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Indicate whether the statement is true or false
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If the MPC in an economy is 0.8, government could close a recessionary expenditure gap of $100 billion by cutting taxes by:
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