Social Studies, 07.04.2020 15:28 ikgopoleng8815
If firms in a monopolistically competitive market are earning economic profits, which of thefollowing scenarios best reflects the change a representative firm experiences as the market adjuststo its long-run equilibrium?
A) Demand increases and becomes less elastic.
B) Demand decreases and becomes more elastic.
C) Demand increases and becomes more elastic.
D) Demand decreases and becomes less elastic.
Answers: 2
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If firms in a monopolistically competitive market are earning economic profits, which of thefollowin...
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