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In perfect competition as well as in monopolistic competition, a. profit is positive in a long-run equilibrium for each firm.
Monopolistic competition differs from perfect competition because in monopolistically competitive markets a. all firms can ev
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Monopolists do not worry about efficient production and minimizing costs since they can just pass along any increase in cost
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Answer #1

1. In perfect competition as well as in monopolistic competition .

- Profit is positive in a long run equlibrium for each firm

2. Monopolistic competition differs from perfect competition because in monopolistically competitive markets

- There are barriers to entry

3. In wich of the markets are following strategic interaction among firms most likely to occure

- Market to which patent and copyright laws apply

4. Monopolists do not worry about efficient production and minimizing costs since they can just pass along any increase in costs consumers

- True; consumers in a monopoly market have no substitutes to turn to when the monopolist rises prices

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