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Discuss about monopolistically competitive firms

Assignment Help Microeconomics
Reference no: EM131600130

Question: One source of inefficiency in monopolistic competition is that

a. because price is above marginal cost surplus is redistributed from buyers to sellers.

b. because price is above marginal cost, some units are not produced that buyers value in excess of the cost of production and this causes a deadweight loss.

c. monopolistically competitive firms produce beyond their efficient scale.

d. monopolistically competitive firms earn economic profits in the long run.

Reference no: EM131600130

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