Multiple Choice
If firms in a monopolistically competitive industry are making profits in the short run, then
A) barriers to entry will be erected to keep out rivals.
B) some firms will ultimately exit the industry.
C) they will resort to advertising wars to help sustain these profits.
D) new firms will enter the market.
Correct Answer:
Verified
Correct Answer:
Verified
Q65: A monopolistically competitive firm that earns economic
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Q67: Figure 13-11<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4193/.jpg" alt="Figure 13-11
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Q75: Table 13-4<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4193/.jpg" alt="Table 13-4