The entry and exit of firms in a monopolistically competitive market guarantee that
A) firms can earn economic profits in the long run.
B) price equals average total cost in the long run.
C) marginal revenue equals marginal cost and average total cost is minimized.
D) firms can earn economic profits in the short run.
B
Economics
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What are the direct and indirect effects of an increase in the money supply?
What will be an ideal response?
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Selling the same product under different brand names allows a firm to price discriminate as long as
A) customers know the products are identical. B) customers do not know the products are identical. C) the products really are not the same. D) the firm lets customers know that the products are identical.
Economics