Exhibit 9-1 A monopolistic competitive firm

-In the long run,the demand curve for the monopolistic competitive firm shown in Exhibit 9-1:

Name: Exhibit 9-1 A monopolistic competitive firm -In the long run,the demand curve for the monopolistic competitive firm shown in Exhibit 9-1:
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Question

Exhibit 9-1 A monopolistic competitive firm
 
-In the long run,the demand curve for the monopolistic competitive firm shown in Exhibit 9-1:

Quizplus · Accepted Answer

In the long run, new firms enter the market if existing firms are making profits, which increases competition and causes the demand curve for each firm to shift leftward until firms make zero economic profit.

Exhibit 9-1 a Monopolistic Competitive Firm