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Question
Refer to the above figure. Which of the following statements about panel D in the figure is TRUE?
A) The figure represents a long -run equilibrium for a monopolistic competitor.
B) The figure represents an industry long -run equilibrium for monopolistic competition.
C) The figure is in error since it doesnʹt show the monopolistic competitor making profits in the long run.
D) The figure is in error since it has marginal cost intersecting the ATC curve at a point other than the minimum of ATC.
Answer
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Related questions
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The United Statesʹ balance of payments is likely to improve whenA) there is an increase in political instability in other countries.B) the inflation rate in the United States rises relative to other countries.C) the American government increases its spending on foreign aid. D) American people want to invest more in foreign countries.