Refer to the information provided in Figure 15.5 below to answer the question(s) that follow. Figure 15.5
-Refer to Figure 15.5. In the long run in this monopolistically competitive industry,

Question

Refer to the information provided in Figure 15.5 below to answer the question(s) that follow.  Figure 15.5
-Refer to Figure 15.5. In the long run in this monopolistically competitive industry,

Quizplus · Accepted Answer

In the long run in a monopolistically competitive industry, firms will enter or exit the market until they are just breaking even economically. This means they will earn zero economic profit, covering all their costs including a normal profit.

Refer to the Information Provided in Figure 15