In the long run, profits tend to remain high in a monopolistic competitive market.

Name: In the long run, profits tend to remain high in a monopolistic competitive market.
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In a monopolistically competitive market, firms have some degree of market power due to product differentiation, but in the long run, economic profits tend to be competed away due to the entry of new firms attracted by the initial high profits, leading to a situation where firms earn just a normal profit.

In the Long Run, Profits Tend to Remain High in a Monopolistic