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What is excess capacity? The differential between price and marginal costs that characterizes monopolistically competitive firms. The fact that entry barriers artificially reduce the number

What is excess capacity?

The differential between price and marginal costs that characterizes monopolistically competitive firms.

The fact that entry barriers artificially reduce the number of firms in an industry.

The fact that most monopolistically competitive firms encounter diseconomies of scale.

The amount by which actual production falls short of the minimum ATC output.

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