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Economics

Which of the following is a characteristic of both perfect competition and monopolistic competition?

Firms face important barriers to entry

In the long run, a firm will earn zero economic profit

A firm's marginal revenue curve is below its demand curve

In the long run, a firm will produce a level of output that corresponds to the minimum point of their average total cost curve

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91226432

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