Exhibit 9-2 a Monopolistic Competitive Firm

question 158

Multiple Choice

Exhibit 9-2 A monopolistic competitive firm

-If all firms in a monopolistic competitive industry have demand and cost curves like those shown in Exhibit 9-2,we would expect that in the long run:

• A) all firms will leave the industry.
• B) some firms will leave the industry.
• C) firms in the industry earn zero economic profits.
• D) a number of new firms will enter the industry.

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Definitions:

NEMA Standard

A set of guidelines established by the National Electrical Manufacturers Association for the design and performance of electrical equipment.

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