I explain how to draw a firm in monopolistic competition. Notice, the firm will make zero economic profit in the long run since there are low barriers to entry. Make sure you know how the graph changes from the short run to the long run.
Monopolistic Competition- Short Run and Long Run- Micro 4.12
I explain how to draw a firm in monopolistic competition. Notice, the firm will make zero economic profit in the long run since there are low barriers to entry. Make sure you know how the graph changes from the short run to the long run.
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