Answer to Question #109196 in Microeconomics for yoyo

Question #109196
Explain the concept of excess capacity under monopolistic competition.
1
Expert's answer
2020-04-13T09:17:20-0400

Excess capacity is a condition that characterizes long-term equilibrium in conditions of monopolistic competition, in which the company operates with a volume of output less than optimal, in which a minimum of total average costs could be achieved.


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