Which of the Following Is Uncharacteristic of Monopolistic Competition in the Long

question 173

Multiple Choice

Which of the following is uncharacteristic of monopolistic competition in the long run?

• A)a large number of sellers in the industry
• B)zero economic profits
• C)price in excess of marginal cost
• D)equilibrium on the declining portion of the average total cost curve
• E)firms have no excess capacity

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