An example of a monopolistic competitive company is the clothing brand H&M. It has a large number of rms around the world. Since it's a famous, fast fashion brand, they don't have many products that differentiate it from other competition. Although, they are known for having a minimalist style in their clothings. Since this is a famous fast fashion brand. their clothes are on the cheaper side, therefore, I think this company is an elastic. There are more brands that sell similar products that cost a lot cheaper than H&M's. I also think that they have the freedom to easily enter and exit as many people know this company. I think H&M can also make normal profits in the long run but can make supernormal prots in the short term especially if they have a product that is trending around social media. Fast fashion brands like H&M are allocatively and productively inefcient because of the low quality for the low price. Chick-fil-aA is an example of a monopolistic competitive company. There are other firms that sell similar substitutes such as KFC, Popeyes, and Raising Canes. There are no huge barriers to entering or exiting the industry. It has differentiated products, and even though it is fast food customers see chick-fil-a having better quality products and being healthier compared to its competitors. It is capable of making supernormal profits in the short term because they have many firms around the world and introduce new products and seasonal products every year. I see chick-fil-a having more price inelastic demand because they are not very expensive compared to their substitutes and their service is exceptional.Can you elaborate and give some insight about these two paragraphs