Which of the following is not true of monopolistic competition?
i. in the long run the...
Social Studies, 06.01.2020 23:31, boopiee2349
Which of the following is not true of monopolistic competition?
i. in the long run the demand curve will shift to the left until price equals average total cost and economics profit increases.
ii. in the long run it does not operate at minimum average cost.
iii. there are large number of buyers and sellers, it is a price maker, and there are low barriers of entry.
Answers: 2
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