Business, 08.07.2021 16:30 shadow6728g

For each of the following characteristics, indicate whether it describes a perfectly competitive firm, a monopolistically competitive firm, both, or neither. (Note: If the characteristic describes neither, leave the entire row unchecked.) Characteristic Perfectly Competitive Monopolistically Competitive
Sells a product differentiated from those of its competitors
Has marginal revenue less than price
Earns economic profit in the long run
Produces at the minimum average total cost in the long run
Equates marginal revenue and marginal cost
Charges a price above marginal cost

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