3. Monopolistically competitive firms are most likely to have profits: A. That are higher than competitive firms' profit in the long run. B. Higher in the long run than in the short run. C. Zero in the long run D. Equal to the profit of a monopolist.

3. Monopolistically competitive firms are most likely to have profits: A. That are higher than competitive firms' profit in the long run. B. Higher in the long run than in the short run. C. Zero in the long run D. Equal to the profit of a monopolist.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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3. Monopolistically competitive firms are most likely to have profits:
A. That are higher than competitive firms' profit in the long run.
B. Higher in the long run than in the short run.
C. Zero in the long run
D. Equal to the profit of a monopolist.

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