Multiple Choice
If short-run economic profits are greater than zero for firms in a monopolistically competitive market, in the long run we expect
A) entry barriers to prevent competing firms from entering this market.
B) the demand curve for firms in the market to shift to the right.
C) the average cost of production to decrease.
D) the average cost of production to increase.
Correct Answer:
Verified
Correct Answer:
Verified
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