Describe long run equilibrium situation for monopolistically
1. Are monopolists guaranteed of making economic profits?
2. Describe the long run equilibrium situation for a monopolistically competitive industry. Provide the two examples of industries that fit under this category.
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The upward slope of the short-run aggregate supply curve allows expansionary fiscal policy to be effective during periods of recession.
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Describe the long run equilibrium situation for a monopolistically competitive industry. Provide the two examples of industries that fit under this category.
Explain which industry is more highly concentrated one with a her findable index of the 1,200 or one with a 4 firm concentration ratio of 55%
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