Babygirlslaying1246 Babygirlslaying1246

04-09-2019
Social Studies

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How does the long-run equilibrium of a monopolistically competitive industry differ from that of a perfectly competitive industry?

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federico1636 federico1636

17-09-2019

Answer:

A firm in monopolistic competition does not take full advantage of its economies of scale because it's the only oferent of a good. A firm in perfect competition produces at the lowest average cost possible.

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