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Drown Summary & A... New Tab Factor a polynomial or... (@ gof a^4b^5, a476^5 -... @ New Tab Cengag CENGAGE |MINDTAP Homework (Ch 16) are shops in the industry relative to the long-run equilibrium. Now consider the long run in which bike manufacturers are free to enter and exit the market. ools Show the possible effect of this free entry and exit by shifting the demand curve for a typical individual producer of bikes on the following graph. Demand Puzzle PRICE (Dollars per bike) QUANTITY (Bikes) Which of the following statements are true about both monopolistic competition and monopolies? Check all that apply. Price equals average total cost in the long run. Firms earn zero profit in the long run. Firms are not price takers. Price is above marginal cost