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Exhibit 10-2 a Monopolistic Competitive Firm

Question 1

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Exhibit 10-2 A monopolistic competitive firm Exhibit 10-2 A monopolistic competitive firm   -If all firms in a monopolistic competitive industry have demand and cost curves like those shown in Exhibit 10-2, we would expect that in the long run: A)  all firms will leave the industry. B)  some firms will leave the industry. C)  firms in the industry earn zero economic profits. D)  a number of new firms will enter the industry.
-If all firms in a monopolistic competitive industry have demand and cost curves like those shown in Exhibit 10-2, we would expect that in the long run:


A) all firms will leave the industry.
B) some firms will leave the industry.
C) firms in the industry earn zero economic profits.
D) a number of new firms will enter the industry.

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