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Home Q & A Board Other Fields Homework Help Business Economics
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Mandolina Mandolina
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6 years ago
In a monopolistically competitive industry, if the typical firm is earning economic profits in the short run,
A) the profits may continue to exist in the long run, since there are substantial entry barriers.
B) the profits will tend to be eliminated, as additional firms enter the industry selling identical products.
C) the profits continue to exist in the long run, since each firm sells a slightly different product.
D) the profits will tend to be eliminated in the long run, as additional firms enter the industry selling somewhat differentiated products.
E) the profits will tend to be eliminated in the long run, as the industry evolves into an oligopoly.
Textbook 
Introduction to Economic Reasoning

Introduction to Economic Reasoning


Edition: 8th
Author:
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VilaVila
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6 years ago
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Mandolina Author
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#2
6 years ago
Makes a ton of sense now Smiling Face with Open Mouth
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