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20. Chapter ma2pe09r, Section .16, Problem 038 (ID: 038.16.MANK09) Figure 16-2 This figure depicts a situation in a monopolistically competitive market. 100 90 80 70

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20. Chapter ma2pe09r, Section .16, Problem 038 (ID: 038.16.MANK09) Figure 16-2 This figure depicts a situation in a monopolistically competitive market. 100 90 80 70 60 PRICE 50 30 20 10 10 20 30 40 50 60 70 80 90 100 QUANTITY Refer to Figure 16-2. Which of the following will occur in the long run in this industry? Oa. This firm will incur losses. Ob. This firm will continue to earn positive economic profits. Oc. Firms will exit this industry. Od. Firms will enter this industry

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