Multiple Choice
A monopolistic competitor is like a monopolist in the short run in that when economic profits are
A) equal to zero, price equals marginal cost.
B) equal to zero, price below marginal cost.
C) greater than zero, changes in output are due to changes to plants by existing firms and there is no entry.
D) greater than zero, price exceeds marginal cost.
Correct Answer:
Verified
Correct Answer:
Verified
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