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At the Profit­maximizing Output, the Monopolistically Competitive Firm InExhibit 10­3

Question 6

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At the profit­maximizing output, the monopolistically competitive firm inExhibit 10­3 is in A) long­run equilibrium because price equals average total cost B) long­run equilibrium because price is less than average total cost C) short­run equilibrium because price is greater than average total cost D) short­run equilibrium because there is an economic loss E) short­run equilibrium because there is zero economic profit At the profit­maximizing output, the monopolistically competitive firm inExhibit 10­3 is in


A) long­run equilibrium because price equals average total cost
B) long­run equilibrium because price is less than average total cost
C) short­run equilibrium because price is greater than average total cost
D) short­run equilibrium because there is an economic loss
E) short­run equilibrium because there is zero economic profit

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