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Discuss the long-term effects in a monopolistically competitive market if an existing firm is making profits and also losses . Use appropriate graphs to illustrate your explanations.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter24: Monopolistic Competition, Oligopoly, And Game Theory

Section: Chapter Questions

Problem 4QP

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Discuss the long-term effects in a monopolistically competitive market if an existing firm is making profits and also losses . Use appropriate graphs to illustrate your explanations.

Definition Definition Amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item

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