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Each firm in a monopolistically competitive market a.earns both short-run and long-run profits. b.faces a downward-sloping demand curve. c.cannot earn economic profit in the short

Each firm in a monopolistically competitive market

a.earns both short-run and long-run profits.

b.faces a downward-sloping demand curve.

c.cannot earn economic profit in the short run.

d.sets price equal to marginal cost.

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