Monopolistic competition and perfect competition are similar in that each market structure is characterized by
A) advertising.
B) production at minimum average cost in the long run.
C) a horizontal demand curve.
D) the absence of long-run economic profits.
Answer: D
Economics
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If each person purchases an item, and then they only use it a small percentage of the time, this is an example of a(n) ________ model.
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