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5. Perfectly competitive market structures and monopolistic competition market structures tend to have numerous firms in the industry and thus both experience 0 economic profit

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5. Perfectly competitive market structures and monopolistic competition market structures tend to have numerous firms in the industry and thus both experience 0 economic profit in the long run, the two differ in the fact that the demand curve for a P.C firm is downward sloping while the demand curve for a M.C industry is downward sloping. T/F

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