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______________states that in equilibrium, a monopolistically competitive firm will produce an output smaller than the one that would minimize its unit costs of production and
______________states that in equilibrium, a monopolistically competitive firm will produce an output smaller than the one that would minimize its unit costs of production and is a trade-off for product differentiation.
A. the excess capacity theorem
B. concentration ratio analysis
C. long-run equilibrium analysis
D. none of the above
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