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Home Q & A Board Other Fields Homework Help Business Economics
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marcsleiman marcsleiman
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7 months ago

Why can't an economist say for certain that a monopolistic competitive firm will always earn zero economic profits in the long run?



▸

Barriers to entry are significant in monopolistic competition.



▸

The very large number of buyers indicates that there will always be demand for the firm's product.



▸

The firms in the industry do not produce identical products.



▸

The firms practice price competition, so at least some firms will always be charging a lower price than other firms and will sell more as a result.



▸

The firms face a horizontal demand curve.

Textbook 
Economics

Economics


Edition: 12th
Author:
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djbo89djbo89
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7 months ago
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marcsleiman Author
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7 months ago
Brilliant ツ
rileyjones420
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Yesterday
this is exactly what I needed
djeghri
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2 hours ago
Helped a lot
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