What is the primary facet of monopolistic competition that does not allow for the presence of long-run profits?
If firms are making short-run profits in a monopolistically competitive industry,what will eventually occur that will cause long-run economic profits to be zero?

Question

What is the primary facet of monopolistic competition that does not allow for the presence of long-run profits?
 If firms are making short-run profits in a monopolistically competitive industry,what will eventually occur that will cause long-run economic profits to be zero?

Quizplus · Accepted Answer

The Answer of What is the primary facet of monopolistic competition that does not allow for the presence of long-run profits?
 If firms are making short-run profits in a monopolistically competitive industry,what will eventually occur that will cause long-run economic profits to be zero?

What Is the Primary Facet of Monopolistic Competition That Does