Industries that are made up of many competing producers, each selling a differentiated product, and whose firms eventually earn zero economic profits in the long run are:
A)perfectly competitive.
B)monopolies.
C)oligopolies.
D)monopolistically competitive.

Question

Quizplus · Accepted Answer

The description given in the question matches the characteristics of a monopolistically competitive market structure, where firms produce differentiated products and have some degree of market power, but eventually experience zero economic profit in the long run due to competition.

Industries That Are Made Up of Many Competing Producers, Each