Essay
Explain why firms in monopolistic competition have excess capacity in the long run.
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Q189: In monopolistic competition, firms do not have
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Q191: A characteristic of monopolistic competition is that
Q192: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The above figure
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Q195: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -In the above
Q196: Excess capacity refers to any unsold output
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Q199: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The above figure