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Question
Both perfectly competitive and monopolistically competitive industries have many firms, in fact so many that, in the long run
a. only one firm can survive in the industry, leading to monopoly.
b. costs must increase due to diseconomies of scale.
c. costs must decrease due to economies of scale.
d. economic profit is competed away.
e. economic profit can continue.
Answer
This answer is hidden. It contains 34 characters.
Related questions
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