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6. Critically evaluate and explain: a. In monopolistically competitive industries, economic prots are competed away in the long run. Hence, there is no valid reason

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6. Critically evaluate and explain: a. In monopolistically competitive industries, economic prots are competed away in the long run. Hence, there is no valid reason to criticize these industries' performance and eiciency. b. In the long run, monopolistic competition leads to a monopolistic price but not to monopolistic prots

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