- A. produces a standardized good or service.
- B. makes a positive economic profit in the long-run.
- C. has no entry barriers to protect it from new entrants.
- D. faces downward sloping demand curve.
- E. produces at the level where marginal revenue equals marginal cost.
Unlike a pure monopoly firm, a monopolistically competitive firm: produces a standardized good or service. makes a positive economic profit in the…
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