If the market served by a monopolistically competitive industry expands, a likely result in the long run will be

Name: If the market served by a monopolistically competitive industry expands, a likely result in the long run will be
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In the long run, as the market expands, there will likely be room for more firms to enter and compete. This will lead to a larger number of firms producing a similar product, as each firm's market share will decrease due to increased competition.

If the Market Served by a Monopolistically Competitive Industry Expands