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Business, 25.07.2019 19:00 tytybruce2

In the long run, a representative firm in a monopolistically competitive industry will end up multiple choice having an elasticity of demand that will be less than it was in the short run. having a larger number of competitors than it will in the short run. earning a normal profit, but not an economic profit. producing a level of output at which marginal cost and price are equal.

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