Rashbash9912 Rashbash9912

10-06-2024
Business

Answered

Assuming identical production functions and cost curves, the long run equilibrium of a monopolistically competitive firm, as compared with that of a perfectly competitive firm, is such that, for the former, price is

A. lower and output is smaller B. higher and output is greater
C higher and output is smaller
D. lower and output is greater
E. None of the above

Answer :

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