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14 December, 16:42

True/False/Explain - If all production processes were subject to constant returns to scales for all output levels, monopolistic competition would not lead to the problem of "excess capacity".

True/False/Explain - Monopolistic competition is characterized by free entry and exit so in the long run, there is no deadweight loss associated with this market structure.

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  1. 14 December, 18:28
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    The answer is true okay!
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