Answered

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In the long run, monopolistically competitive firms
A) have excess capacity and produce at the minimum of average total cost.
B) charge prices equal to marginal cost.
C) produce at the minimum of average total cost.
D) have excess capacity.

Sagot :

Monopolistically competitive businesses eventually have excess capacity.

( Option D )

- When a large number of businesses provide rival goods or services that are comparable but imperfect alternatives, monopolistic competition exists. A monopolistic competitive industry has minimal entry requirements, and decisions made by any one firm do not immediately affect those of its rivals.

- An illustration of a monopolistically competitive market is the restaurant sector, which is present nationwide. Most places have a large number of businesses, all of which are unique, and entry is simple. Each product has a number of comparable alternatives that are offered by various businesses, including other eateries and fast-food joints.

To know more about monopolistic competitive firms, kindly click on the link below :

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