Which of the following is true of the monopolistically competitive firm in long-run equilibrium? a. Equilibrium price

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Which of the following is true of the monopolistically competitive firm in long-run equilibrium?

a. Equilibrium price equals average total costs.

b. Economic profits are zero.

c. Incentives for firms to either enter or exit the industry have been eliminated.

d. All of these

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Exploring Economics

ISBN: 9781544336329

8th Edition

Authors: Robert L. Sexton

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Question Posted: Jan 17, 2023 07:34 AM

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Which of the following is true of the monopolistically competitive firm in long-run equilibrium? a. Equilibrium price

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