Business, 16.12.2019 17:31 kaitlynnputtere

For each of the following characteristics, say whether it describes a monopoly firm, a monopolistically competitive firm, both, or neither. (note: if the characteristic describes neither, leave the entire row unchecked.)characteristic: monopoly /monopolistically competitive1. faces a downward-sloping demand curve2. has marginal revenue less than price3. faces the entry of new firms selling similar products4. earns economic profit in the long run5. equates marginal revenue and marginal cost6. produces the socially efficient quantity of output

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For each of the following characteristics, say whether it describes a monopoly firm, a monopolistica...