Multiple Choice
A firm in monopolistic competition is similar to a firm in perfect competition because they both
A) can make only zero economic profit in the long run.
B) can make only zero economic profit in the short run.
C) maximize their profits by producing where P = MR = MC.
D) Both answers A and C are correct.
E) Both answers B and C are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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