Cali4214 Cali4214

12-06-2024
Business

Answered

Comparing a monopolistically competitive market in the long run to a profitable monopoly (assume that the monopoly is neither price discriminating nor a natural monopoly), we can conclude in terms of welfare that

1.The monopolistically competitive market is superior
2.The monopolistically competitive market is inferior
3.The monopolistically competitive market is the same

Answer :

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