If There Are a Large Number of Firms in a Monopolistically

question 11

Multiple Choice

If there are a large number of firms in a monopolistically competitive industry

• A)there will be barriers to entry that prevent additional firms from entering the industry.
• B)there will be a small number of firms that are very large and the rest will be very small.
• C)the firms will converge production on a standardized product.
• D)the country in which the firms are located can be expected to export the goods they produce.
• E)long- run profit will be equal to zero.

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