Assume the firms in a monopolistically competitive industry initially are earning positive economic profits. Which of the following will not occur over time? A. The firms' economic profits will be reduced

Assume the firms in a monopolistically competitive industry initially are earning positive economic profits. Which of the following will not occur over time?

A. The firms' economic profits will be reduced
B. New firms will enter
C. Demand for the existing firms' output will become more inelastic
D. The number of substitutes available in the industry will increase

1 Answer

Assume the firms in a monopolistically competitive industry initially are earning positive economic profits. Which of the following will not occur over time? A. The firms' …

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

Please log in or register to add a comment.

Related questions

Categories

Other Questions