A monopolistic competitor is like a competitive firm in the long-run because
a) it earns zero economic profits
b) it earns positive economic profits
c) both firms will increase price to increase profits
d) both firms will earn positive economic profits

Question

A monopolistic competitor is like a competitive firm in the long-run because
a) it earns zero economic profits
b) it earns positive economic profits
c) both firms will increase price to increase profits
d) both firms will earn positive economic profits

A monopolistic competitor is like a competitive firm in the long-run because

a) it earns zero economic profits

b) it earns positive economic profits

c) both firms will increase price to increase profits

d) both firms will earn positive economic profits

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A monopolistic competitor is like a competitive firm in the long-run because a) it earns zero economic profits b) it earns positive economic profits c) both firms will increase price to increase profits d) both firms will earn positive economic profits