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A monopolistically competitive firm differs from a perfectly competitive firm in the long run in that

treetreee

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A monopolistically competitive firm differs from a perfectly competitive firm in the long run in that

A monopolistically competitive firm differs from a perfectly competitive firm in the long run in that

• profits are zero for a monopolistically competitive firm and positive for a perfectly competitive firm.

• the demand curve faced by a monopolistically competitive firm is downward sloping, while the demand curve faced by a perfectly competitive firm is horizontal.

• marginal cost equals the market price for a monopolistically competitive firm but not for a perfectly competitive firm.

• profits are positive for a monopolistically competitive firm and zero for a perfectly competitive firm.

Textbook

Economics Today: The Micro View

Edition: 19^th

Author: Miller

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