In the long run, monopolistically competitive firms can make an economic profit because of product differentiation.

Name: In the long run, monopolistically competitive firms can make an economic profit because of product differentiation.
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In the long run, monopolistically competitive firms cannot make an economic profit because new firms enter the market when they see existing firms making profits, which erodes the profits due to increased competition.

In the Long Run, Monopolistically Competitive Firms Can Make an Economic