Author Question: If a firm in monopolistic competition is making an economic profit, (Read 48 times)

madam-professor · **on:** May 24, 2019

If a firm in monopolistic competition is making an economic profit,
◦ it is in the long run.
◦ other firms can enter the market.
◦ it can do so because it is "monopolistic" and other firms will have a hard time competing with it.
◦ its average cost must exceed its marginal cost.
◦ The question errs because firms in monopolistic competition cannot make an economic profit.

irishcancer18 · **Reply #1 on:** May 24, 2019

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