Question 27 Which of the following features is common to both perfectly competitive markets and monopolistically competitive markets? Firms produce homogeneous goods There is free entry Long-run profits are zero There is free entry and long-run profits are zero

Question 27
Which of the following features is common to both perfectly competitive markets and monopolistically competitive markets?
Firms produce homogeneous goods
There is free entry
Long-run profits are zero
There is free entry and long-run profits are zero

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