In monopolistic competition, easy industry entry and exit drives long-run profits of firms to zero.
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Q25: Monopolistic competition provides the benefit of product
Q26: As firms exit from a monopolistically competitive
Q27: Industries X and Y both have four-firm
Q28: "Excess capacity" exists in monopolistic competition but
Q29: Product differentiation in a monopolistically competitive market
Q31: The amount of excess capacity in pure
Q32: If the representative firm in a monopolistically
Q33: Industries X and Y both have four-firm
Q34: An industry having a four-firm concentration ratio
Q35: That one thing that monopolistic competition provides,
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