Business, 06.08.2019 00:10 akerner

The fact that monopolistically competitive firms charge a price that exceeds marginal cost is responsible for the a. business-stealing externality that is observed in monopolistically competitive markets. b. product-variety externality that is observed in monopolistically competitive markets. c. inefficiencies of the long-term losses earned by monopolistically competitive firms. d. persistence of positive profits into the long run for monopolistically competitive firms.

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The fact that monopolistically competitive firms charge a price that exceeds marginal cost is respon...