Narrbegin Exhibit 9.1 A monopolistic competitive firm
-In the long run, the demand curve for the monopolistically competitive firm shown in Exhibit 9.1:

Name: Narrbegin Exhibit 9.1 A monopolistic competitive firm -In the long run, the demand curve for the monopolistically competitive firm shown in Exhibit 9.1:
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Question

Narrbegin Exhibit 9.1 A monopolistic competitive firm  
-In the long run, the demand curve for the monopolistically competitive firm shown in Exhibit 9.1:

Quizplus · Accepted Answer

In the long run, new firms enter the market due to the presence of economic profits, causing the demand curve for existing firms to shift leftward as they lose some of their market share.