Figure 8.2
-Figure 8.2 shows demand and costs for a monopolistically competitive firm. In the long run we expect

Name: Figure 8.2 -Figure 8.2 shows demand and costs for a monopolistically competitive firm. In the long run we expect
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In the long run, new firms enter the market due to the presence of economic profits, causing the demand curve for the existing firm to shift to the left, which also shifts the marginal revenue curve to the left.

Figure 8.2 -Figure 8.2 Shows Demand and Costs for a Monopolistically Competitive