Which diagram shows a monopolistically competitive firm in long-run equilibrium?

Economics

IGCSE&ALevel

CAIE

Exam No：9708_w24_qp_33 Year：2024 Question No：5

Answer:

7.6.1 perfect competition and imperfect competition: monopoly, monopolistic competition, oligopoly, natural monopoly

7.6.4.1 revenues and revenue curves

7.6.4.2 output in the short run and the long run

7.6.4.3 profits in the short run and the long run

7.6.4.4 shutdown price in the short run and the long run

7.6.4.5 derivation of a firm’s supply curve in a perfectly competitive market

7.6.4.6 efficiency and X-inefficiency in the short run and the long run

7.6.4.7 contestable markets: features and implications

7.6.4.8 price competition and non-price competition

7.6.4.9 collusion and the Prisoner’s Dilemma in oligopolistic markets, including a two-player pay-off matrix

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