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Answer to Question #83910 in Microeconomics for ahmed
Question #83910
Equilibrium for a monopoly firm looks exactly like long-run equilibrium for a monopolistically competitive firm.
true or false
true or false
Expert's answer
This statement is not true, because in equilibrium a monopoly firm can receive profit, because its P > ATC, but in long-run equilibrium for a monopolistically competitive firm P = ATC and it receives normal (zero) profit.
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