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Use the Figure Below to Answer the Following Questions

Question 54

Multiple Choice

Use the figure below to answer the following questions. Use the figure below to answer the following questions.   Figure 13.2.1 -Refer to Figure 13.2.1.If this firm in monopolistic competition is in short-run equilibrium,then A) rival firms will enter the industry. B) all firms will exit the industry. C) economic profit of all firms in the industry is zero. D) it produces 60 units of output to maximize economic profit. E) the firm's profits can be expected to rise over time. Figure 13.2.1
-Refer to Figure 13.2.1.If this firm in monopolistic competition is in short-run equilibrium,then


A) rival firms will enter the industry.
B) all firms will exit the industry.
C) economic profit of all firms in the industry is zero.
D) it produces 60 units of output to maximize economic profit.
E) the firm's profits can be expected to rise over time.

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