As in a monopoly market, monopolistically competitive firms:

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In a monopolistically competitive market, firms do not earn economic profit in the long run due to the ease of entry and exit, and they do not sell their product at a price that equals marginal cost. Instead, they set their price above marginal cost and can earn a short-term economic profit. However, in the long run, competition will drive down prices and eliminate any economic profit. Additionally, monopolistically competitive firms are driven by profit motives, not altruistic motives. Finally, in a monopolistically competitive market, price and marginal revenue are not necessarily equal due to the downward sloping demand curve, which means that a decrease in price does not result in an equal decrease in revenue.

As in a Monopoly Market, Monopolistically Competitive Firms