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Which of the following conditions does NOT describe a firm in a monopolistically competitive market? Question 1 options: a ) It sells a product different
Which of the following conditions does NOT describe a firm in a monopolistically competitive market?
Question options:
a
It sells a product different from its competitors.
b
It maximizes profit both in the short run and in the long run.
c
It has the freedom to enter or exit in the long run.
d
It takes its price as given by market conditions.
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