What happens in the long run in monopoly and monopolistic competition? Barriers to entry allow sustained economic profits in a monopoly. Both types of markets have a long run equilibrium with zero economic profit. Barriers to entry allow sustained economic profits in monopolistic competition. Barriers to entry allow sustained economic profits in both types of markets.
What happens in the long run in monopoly and monopolistic competition? Barriers to entry allow sustained economic profits in a monopoly. Both types of markets have a long run equilibrium with zero economic profit. Barriers to entry allow sustained economic profits in monopolistic competition. Barriers to entry allow sustained economic profits in both types of markets.
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter17: Oligopoly
Section: Chapter Questions
Problem 4CQQ
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