Multiple Choice
A monopolistically competitive firm ________ have excess capacity because its ________.
A) does; demand curve is downward sloping
B) does not; demand curve is downward sloping
C) does; average total cost curve is U-shaped
D) does not; average total cost curve is U-shaped
E) does; marginal revenue curve lies below its demand curve
Correct Answer:
Verified
Correct Answer:
Verified
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