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Question: ECON 208-Spring 2017 Test Exam 3 This Question: 2 pts 16 of 50 (0 complete) For a firm in monopol...
Question: ECON 208-Spring 2017 Test Exam 3 This Question: 2 pts 16 of 50 (0 complete) For a firm in monopol...
Question: ECON 208-Spring 2017 Test Exam 3 This Question: 2 pts 16 of 50 (0 complete) For a firm in monopol...

Show transcribed image text ECON 208-Spring 2017 Test Exam 3 This Question: 2 pts 16 of 50 (0 complete) For a firm in monopolistic competition, innovation and product development are O A. inconsequential because each firm produces a different product. O B. uncommon because other firms already produce similar products. O C. senseless because economic profit is always zero in the long run. O D. necessary to allow new firms to enter. O E. necessary in order to have a chance of earning at least a short-run economic profit. kerolos Tim

ECON 208-Spring 2017 Test Exam 3 This Question: 2 pts 16 of 50 (0 complete) For a firm in monopolistic competition, innovation and product development are O A. inconsequential because each firm produces a different product. O B. uncommon because other firms already produce similar products. O C. senseless because economic profit is always zero in the long run. O D. necessary to allow new firms to enter. O E. necessary in order to have a chance of earning at least a short-run economic profit. kerolos Tim