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
1
Expert's answer
2018-12-24T09:52:11-0500

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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