Title: The diagram below shows demand and cost curves for a monopolistically competitive firm.FIGURE ... Post by: johndoris on Oct 9, 2022 The diagram below shows demand and cost curves for a monopolistically competitive firm. ▸ be making losses and some firms would exit the industry in the long run. ▸ be making profits and new firms would enter the industry in the long run. ▸ exit the industry and the industry would shut down. ▸ decrease costs in order to break even at PL and QL in the long run. ▸ increase costs in order to break even at PL and QL in the long run. Title: The diagram below shows demand and cost curves for a monopolistically competitive firm.FIGURE ... Post by: isaw09 on Oct 9, 2022 Content hidden
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