Figure: Profit Maximization in Monopolistic Competition (Figure: Profit Maximization in Monopolistic Competition) Look at the figure Profit Maximization in Monopolistic Competition.If other firms see economic profits in the industry, they will enter it, and the demand curve for firms already in the industry will shift to the ________; in the long run, this will result in an economic profit ________ and a price _. A)right; = 0; = ATC . B)right; 0; ATC . C)left;

Question

Figure: Profit Maximization in Monopolistic Competition (Figure: Profit Maximization in Monopolistic Competition) Look at the figure Profit Maximization in Monopolistic Competition.If other firms see economic profits in the industry, they will enter it, and the demand curve for firms already in the industry will shift to the ________; in the long run, this will result in an economic profit ________ and a price _. A)right; = 0; = ATC . B)right; > 0; > ATC . C)left; < 0; < ATC. D)left; = 0; = ATC

Quizplus · Accepted Answer

The Answer of Figure: Profit Maximization in Monopolistic Competition (Figure: Profit Maximization in Monopolistic Competition) Look at the figure Profit Maximization in Monopolistic Competition.If other firms see economic profits in the industry, they will enter it, and the demand curve for firms already in the industry will shift to the ________; in the long run, this will result in an economic profit ________ and a price _. A)right; = 0; = ATC . B)right; > 0; > ATC . C)left; < 0; < ATC. D)left; = 0; = ATC