Question
Essay Question Why is it the case in a long-run monopolistically competitive equilibrium that the firm's demand curve is tangent to its average cost curve?
Essay Question
Why is it the case in a long-run monopolistically competitive equilibrium that the firm's demand curve is tangent to its average cost curve? Why could it not be a long-run equilibrium if the demand curve "cut through" the average cost curve?
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Reform Of The International Monetary System An Asian Perspective
Authors: Masahiro Kawai, Mario B Lamberte, Peter J Morgan
1st Edition
4431550348, 9784431550341
