Are you able to explain how this answer is solved and how graphs are made for this question? Assume a firm
Are you able to explain how this answer is solved and how graphs are made for this question? Assume a firm in a monopolistically competitive industry is currently making a short run positive economic profit. Describe what is likely to happen to this firm’s profit in the long run. What role does elasticity play in this story?Think of a few examples of monopolistically competitive industries […]