Describe the reasons that, in the long run, monopolistically competitive firms earn only normal profits. Draw a graph illustrating the long-run equilibrium.

Name: Describe the reasons that, in the long run, monopolistically competitive firms earn only normal profits. Draw a graph illustrating the long-run equilibrium.
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The Answer of Describe the reasons that, in the long run, monopolistically competitive firms earn only normal profits. Draw a graph illustrating the long-run equilibrium.

Describe the Reasons That, in the Long Run, Monopolistically Competitive