Which of the following statements is true about profits in a monopolistically competitive market?
(A) Monopolistically competitive firms are as profitable as monopoly firms.
(B) Profits are rare in monopolistically competitive markets.
(C) Most firms will earn substantial profits from year to year.
(D) Many firms will earn profits in the short term, but they must constantly innovate and compete to earn profits in the long term.
Ans: (D) Many firms will earn profits in the short term, but they must constantly innovate and compete to earn profits in the long term.
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a. True b. False Indicate whether the statement is true or false
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What will be an ideal response?
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What will be an ideal response?
A company office can be thought of as
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