Monopolistically competitive firms

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Reference no: EM13832846

a. are guaranteed to earn short-run economic profit

b. may earn short-run economic profits, although long-run economic profit is typically zero

c. may earn economic profit both in the short run and in the long run

d. earn zero economic profit both in the short run and in the long run

e. can only earn an economic profit in the inelastic portion of their demand curves

Reference no: EM13832846

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