Because Consumers Value Product Variety

question 23

Multiple Choice

Because consumers value product variety,

• A)society must be more efficient with monopolistic competition than with perfect competition.
• B)the inefficiency of monopolistic competition is partially offset.
• C)in the long run, monopolistic competition firms make economic profit.
• D)monopolistically competitive industries are efficient.
• E)no two goods of the same type will have equal prices.

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