In the short run monopolistically competitive firms behave like but in the long

In the short run monopolistically competitive firms

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58. In the short run, monopolistically competitive firms behave like ________________; but in the long run, the outcome is similar to that of ________________.A. monopolies; perfectly competitive firmsB. perfectly competitive firms; monopoliesC. monopolies; oligopoliesD. oligopolies; perfectly competitive firms59. These are the cost and revenue curves associated with a monopolistically competitive firm.According to the graph shown, area B represents: 23
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60. Monopolistic competition describes a market with: 61. If a monopolistically competitive firm is earning profits in the short run: 62. What is the firm’s short run profits? If this is monopolistic competition, what are it’s long runprofits?A. $40; $40B. $120; zeroC. $40; zeroD. $80; $12024
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63. These are the cost and revenue curves associated with a firm.Assuming the firm in the graph is producing Q1 and charging P3, it is likely showing the cost and revenue curves of a firm in: 64. A company with a strong brand identity: 25
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65. In an oligopoly, when the quantity effect outweighs the price effect:
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