If a monopolistically competitive firm is making economic profits it can be assu

Question

If a monopolistically competitive firm is making economic profits it can be assured of high profits for all time to come. the entrance of new firms decreases the demand facing the firm, thereby reducing profits. the entrance of new firms increases the demand facing the firm, thereby reducing profits. the entrance of new firms decreases costs, thereby reducing profits. If a monopolistically competitive firm is making economic profits If a monopolistically competitive firm is making economic profits it can be assured of high profits for all time to come. the entrance of new firms decreases the demand facing the firm, thereby reducing profits. the entrance of new firms increases the demand facing the firm, thereby reducing profits. the entrance of new firms decreases costs, thereby reducing profits. it can be assured of high profits for all time to come. the entrance of new firms decreases the demand facing the firm, thereby reducing profits. the entrance of new firms increases the demand facing the firm, thereby reducing profits. the entrance of new firms decreases costs, thereby reducing profits. it can be assured of high profits for all time to come.

Explanation / Answer

the entrance of new firms decreases the demand facing the firm, thereby reducing profits.

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