In monopolistic competition as well as in monopoly,
a. price exceeds marginal revenue for each firm.
b. profit is zero in a long-run equilibrium for each firm.
c. entry and exit by firms are unrestricted.
d. there are at most a few firms in each market.
a
Economics
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The vertical distance between the average total cost curve and the average variable cost curve equals: a. marginal cost
b. average fixed cost. c. total fixed cost. d. total variable cost.
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