Explain how it is impossible for a firm in monopolistic competition to earn abnormal profits in the

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Explain how it is impossible for a firm in monopolistic competition to earn abnormal profits in the long run.

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Economics Course Book 2020

ISBN: 9781382004961

2020 Edition

Authors: Jocelyn Blink, Ian Dorton

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Question Posted: Feb 17, 2024 02:00 AM

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Explain how it is impossible for a firm in monopolistic competition to earn abnormal profits in the

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In monopolistic competition firms produce differentiated products that are similar but not identical to those of their competitors This leads to a sit...View the full answer

Economics Course Book 2020

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