Monopolistically competitive firms short run profits

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Reference no: EM13998746

Consider all of these statements:

A. Monopolistically competitive firms short run profits must necessarily be zero.

B. Monopolistically competitive firms short run profits can be positive.

C. Monopolistically competitive firms long run profits are always be zero

D. Monopolistically competitive firms long run profits can be positive.

Which of these statements is true?

(1) B & C

(2) A & D

(3) B & D

(4) A & C

(5) A

(6) C

Reference no: EM13998746

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