Exhibit depicts a monopolistically competitive firm a. generating profits in the short run. b. It is impossible to determine from this graph whether the firm is generating profits or losses. c. generating zero profits in the long run. d. generating losses in the short run.

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21-07-2022
Business

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Exhibit depicts a monopolistically competitive firm a. generating profits in the short run. b. It is impossible to determine from this graph whether the firm is generating profits or losses. c. generating zero profits in the long run. d. generating losses in the short run.

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Tundexi Tundexi · Answer 1 · 2022-07-29T19:21:43+02:00

The graph shows about monopolistically competitive firm that it is impossible to determine from this graph whether the firm is generating profits or losses..

What is a monopolistically competitive firm?

These are firm involved in an imperfect competition where there are many producers competing against each other but selling products that are differentiated from one another and hence are not perfect substitutes.

The characteristics of a monopolistically competitive industry includes:

Many sellers.
Easy entrance.
Differentiated products.
Local Advertising.

Hence, the graph shows about monopolistically competitive firm that it is impossible to determine from this graph whether the firm is generating profits or losses..

Therefore, the Option B is correct.

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