A monopolistically competitive firm earning positive economic profits will in the long run experience

0 votes
    Both 1 and 2.
     zero economic profits.
     price and profit stability because its product or service is differentiated and so protected from competition.
     a decline in demand as the above normal profits attract new firms to the market.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

0 votes
Both 1 and 2.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)

Related questions

0 votes
1 answer 21 views
0 votes
1 answer 20 views
20 views asked Jun 2, 2013 in Economics by anonymous
0 votes
1 answer 29 views
0 votes
1 answer 32 views
0 votes
1 answer 20 views



...