The long-run equilibrium outcomes in monopolistic competition and perfect competition are similar, because in both market structures :
(a) The efficient output level will be produced in the long run.
(b) Firms will be producing at minimum average cost.
(c) Firms will only earn a normal profit.
(d) Firms realize all economies of scale.
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Explanation:
The long-run equilibrium outcomes in monopolistic competition and perfect competition are similar, because in both market structures :
(a) The efficient output level will be produced in the long run.
(b) Firms will be producing at minimum average cost.
(c) Firms will only earn a normal profit.✔️
(d) Firms realize all economies of scale.
Answered by
67
Answer:
The answer is (c) Firms will only earn a normal profit.
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