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Which of the following is/are TRUE? I. A monopolistic competitive firm sets price > MC . II. A monopolistic competitive firm sets price = MC

Which of the following is/are TRUE?

I. A monopolistic competitive firm sets price >MC.

II. A monopolistic competitive firm sets price =MC.

III. A monopolistic competitive firm operates atMC=MR.

a) II and III only

b) I and III only

c) I only

d) II only

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