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Separate the monopolistic competition

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Given the description of the firms below, separate the following as monopolistic competition, perfect competition, or both.

a. firm that has market power

B. a firm that produces at efficient scale in the long run

C. a firm that produces with excess capacity in the long run

D. a firm that sets price greater than marginal cost

E. a firm that may earn an economic profit or loss in the short run

F. a firm that produces an identical product to all of its rivals

G. a firm that faces a downward-sloping demand curve

H. a firm that earns zero economic profit in the long run

I. a firm that maximizes profits by producing where MR = MC

Reference no: EM132265681

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