Question
Monopolistic competition and price-taker markets have several things in common. Which of the following is NOT one of them? Both: a)have zero profits in the
Monopolistic competition and price-taker markets have several things in common. Which of the following is NOT one of them? Both:
a)have zero profits in the long run.
b)have low or no barriers to entry.
c)use advertising to differentiate their products.
d)produce where MR = MC.
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Microeconomics Principles, Problems and Policies
Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn
20th edition
978-0077660819, 77660811, 978-1259450242
