The product-variety externality states that entry of a new firm conveys a negative externality on consumers.
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Q26: When a firm operates with excess capacity,
Q27: In a monopolistically competitive market, the demand
Q28: In a long-run equilibrium, firms in both
Q29: In a monopolistically competitive market, the number
Q30: When a profit-maximizing firm in a monopolistically
Q32: When a monopolistically competitive firm is in
Q33: The product-variety externality states the benefits to
Q34: In a long-run equilibrium, both perfectly competitive
Q35: When a firm operates at efficient scale,
Q36: A monopolistically competitive firm faces a downward-sloping
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