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Marizza181 [45]
3 years ago
10

In monopolistically competitive markets, resources are: Group of answer choices overallocated because long-run equilibrium occur

s where price exceeds marginal cost. underallocated because long-run equilibrium occurs where marginal cost exceeds price. overallocated because long-run equilibrium occurs where marginal cost exceeds price. underallocated because long-run equilibrium occurs where price exceeds marginal cost.
Business
1 answer:
sasho [114]3 years ago
3 0

Answer: underallocated because long-run equilibrium occurs where price exceeds marginal cost.

Explanation:

Monopolistic competition occurs when there are many firms that are producing products that are differentiated. It should also be noted that one typical characteristics of a monopolistic competition is a large number of firms coupled with low entry barriers.

It should be noted that in monopolistically competitive markets, resources are underallocated because long-run equilibrium occurs where price exceeds marginal cost..

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Explanation:

In an equilibrium, a price has been reached that everyone is satisfied with. This is why there are no unconsummated wealth creating transactions.

The market has managed to bring together people who are want a certain good more than they will pay for it and sellers who value the good less than they will receive for it. The Equilibrium therefore sets a price that is fair on both these people which will mean that they will not be able to unfairly trade with one another. The person who values the good more than they can pay will be able to pay the person who values the goods less than they will receive. Equilibrium has brought them to a middle ground.

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4 years ago
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4 years ago
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Answer:

$16,8 per unit

Explanation:

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3 years ago
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Answer:

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