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10 questions from this quiz
Product differentiation, free entry, many firms
Downward-sloping demand curve
Where MR=MCMR = MCMR=MC
Normal profit only
No, firms don't produce at minimum AC
Price exceeds marginal cost (P>MCP > MCP>MC)
Demand shifts left and becomes more elastic
Combined market share of 3 largest firms
Strategic interdependence between firms
AC curve is tangent to demand curve
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