Answer to Question #75839 in Microeconomics for jess

Question #75839
A monopolistic competitor is like a perfectly competitive firm in the long run because:
1
Expert's answer
2018-04-11T09:42:17-0400
A monopolistic competitor is like a perfectly competitive firm in the long run because new companies can enter the market. The economic profit in a short-run attracts more firms to join the monopolistic competition. Moreover, monopolistic competition has no barriers for the entrance of new entities compared to the perfect monopoly.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

Ask Your question

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS