Within a Monopolistically Competitive Industry

question 95

Multiple Choice

Within a monopolistically competitive industry,

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

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Definitions:

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