Refer to the Information Provided in Figure 15

question 41

Multiple Choice

Refer to the information provided in Figure 15.1 below to answer the question(s) that follow. Below are cost curves for Dom's Barber Shop, a monopolistically competitive firm. Figure 15.1
-Refer to Figure 15.1. In this industry, in the long run

• A) firms will continue to earn economic profits.
• B) firms will enter until all firms earn a normal profit.
• C) demand for the product will decrease so that profits are decreased.
• D) the government will impose price controls to eliminate any economic profits.

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Definitions:

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Securities And Exchange Commission

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Public Companies

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