Within a Monopolistically Competitive Industry

question 13

Multiple Choice

Within a monopolistically competitive industry,

• A)firms can freely enter and exit,and economic profit is zero in the long run.
• B)firms can freely enter and exit,and economic profit is greater than zero in the long run.
• C)there are some barriers to entry and exit,and economic profit is zero in the long run.
• D)there are some barriers to entry and exit,and economic profit is greater than zero in the long run.
• E)firms can freely enter and exit,and economic profit is zero in the short run.

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Definitions:

Calculus Problem

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