32) A monopolistically competitive industry that earms economic profits in the short run willA) experience a rise in demand in the long run.B experience the entry of new rival firma into the industry in the long run.O continue to eam economic profits in the long run.D) experience the exit of existing firms out of the industry in the long run.

Economic profit is the difference between the revenue earned from the sale of products and…

Amonpoltically competitive industry that eams ecmmic peofits in the shot un will Al eperience a eperimor the etry of new rival fime inte the industry in the long run O continue t Deperiemor the eit of existing and in the long nun economic in the lon dustry long run

Amonpoltically competitive industry that eams ecmmic peofits in the shot un will Al eperience a eperimor the etry of new rival fime inte the industry in the long run O continue t Deperiemor the eit of existing and in the long nun economic in the lon dustry long run

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter16: Monopolistic Competition

Section: Chapter Questions

Problem 1QCMC

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32) A monopolistically competitive industry that earms economic profits in the short run will
A) experience a rise in demand in the long run.
B experience the entry of new rival firma into the industry in the long run.
O continue to eam economic profits in the long run.
D) experience the exit of existing firms out of the industry in the long run.

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