Monopolistically competitive firms experience "excess capacity" in the short run but not in the long run.
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Q223: Monopolistically competitive firms in long-run equilibrium produce
Q224: The long-run equilibrium for a monopolistically competitive
Q225: Because they produce where P > MC,
Q226: Monopolistically competitive firms in long-run equilibrium produce
Q227: The long-run equilibrium for a monopolistically competitive
Q229: We know that monopolistically competitive firms prevent
Q230: The long-run equilibrium for a monopolistically competitive
Q231: Monopolistically competitive firms fail to fully realize
Q232: Product differentiation can lead to gains in
Q233: Monopolies can earn positive economic profits in
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