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Suppose That Firms in a Monopolistically Competitive Industry Are Earning

Question 167

Multiple Choice

Suppose that firms in a monopolistically competitive industry are earning short-run economic profits.In the long run, the demand curve facing each individual firm can be expected to


A) shift to the left and become flatter
B) shift to the left and become steeper
C) shift to the right and become flatter
D) shift to the right and become steeper
E) remain constant

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