The long-run equilibrium outcomes in monopolistic co... - Solved MCQs & Answer

3448EconomicsMedium

The long-run equilibrium outcomes in monopolistic competition and perfect competition are similar because in both market structures?

Afirms realize all economies of scale

Bfirms will be producing at minimum average cost

Cfirms will only earn a normal profit

Dthe efficient output level will be produced in the long run

Correct answer

C. firms will only earn a normal profit

Explanation

The correct answer is firms will only earn a normal profit.

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