Question

A monopolistically competitive firm in the long run will ______________.

a. operate where excessive profit can be achieved.
b. have a demand curve below its AC.
c. have a demand curve above its AC.
d. have a demand curve tangent to its AC.

Answer 1

Answer:

Hope that the answer is A.

A monopolistically competitive firm in the long run will operate where excessive profit can be achieved.

Explanation:

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