CSecure etps:www.rmuathe.com Studert PlayerTest.anpeed 164608254kcerne MiaroFL17
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Question
CSecure etps:www.rmuathe.com Studert PlayerTest.anpeed 164608254kcerne MiaroFL17 Test: Test #7 Ch.14 Monopolistic Competition & Ch.15 Oligopoly This Question: 1 pt 1 of 58 The dry cleaning industry is in monopolistic competion. In the short run, the profit-maximiz 8 $10 per item and the average total cost is $6 per item. In the long run, the profit-maximizing price s $, In the long run, what is the economic proft of a firm in the dry cleaning indushry? In the long run, the economic profit of a firm in the dry cleaning industry is S ilem. Enter your answer in the answer box.Explanation / Answer
$ 6 per unit.
Economic profit in long run is at minimum point of ATC. P = min ATC i.e. $ 6