Question

​Deadweight losses are associated with monopolistic competition: a. ​In both the short and long run b....

​Deadweight losses are associated with monopolistic competition:

a.

​In both the short and long run

b.

In neither the short run nor the long run

c.

​In the long run, but not the short run

d.

​In the short run, but not the long run

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Answer #1

in the short run and long run a monopolistically competitive market is inefficient and neither achieve allocative nor productive efficiency as a result firm faced a deadweight loss.

Deadweight losses are associated with monopolistic competition in both the short and long run.

Answer: Option (a).

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