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Which of the Following Are True? the Similarities Between Perfect

Question 52

Multiple Choice

Which of the following are true? The similarities between perfect competition and monopolistic competition include: (1) no barriers to entry.
(2) profit-maximizing output occurs where MC = MR.
(3) long-run economic profit equals zero.


A) (1) only
B) (2) only
C) (1) and (2) only
D) (2) and (3) only
E) (1) , (2) ,and (3)

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