[Solved] What Will Be the Long-Run Result of New Firms Entering

Question 83
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What will be the long-run result of new firms entering a monopolistically-competitive industry?


A)The price charged by the representative firm will be equal to marginal cost.
B)The representative firm will certainly incur losses.
C)While the representative firm will not make economic profits,it will be able to make normal profits.
D)The representative firm will be able to maintain economic profits.

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