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Excess capacity in monopolistically competitive industries results because in equilibrium
A) each firm's output level is too great to minimize the average cost.
B) each firm's output level is too small to minimize the average cost.
C) firms make a positive economic profit.
D) price equals marginal cost.
Excess capacity in monopolistically competitive industries results because in equilibrium
A) each firm's output level is too great to minimize the average cost.
B) each firm's output level is too small to minimize the average cost.
C) firms make a positive economic profit.
D) price equals marginal cost.
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Darryn D'SouzaLv10
28 Sep 2019