When entry occurs in a monopolistically competitive, Ask an Expert

Economics

When entry occurs in a monopolistically competitive industry,

marginal costs to society exceed the price people are willing to pay.

price is equal to marginal revenue gained by society.

the marginal revenue curve will shift to the left.

a smaller quantity will be demanded at any given price.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91696693

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