Multiple Choice
In monopoly and monopolistic competition, price is greater than marginal cost. This is an indication that
A) both industries result in product variety.
B) both industries make economic profits in the long run.
C) there are barriers to entry in both types of industries.
D) marginal costs must be very low in both types of industries.
E) both industries result in deadweight loss.
Correct Answer:
Verified
Correct Answer:
Verified
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