In a monopolistically competitive market, use a diagram to show what will happen to profits, output, profits and efficiency in the long run.
As it can be seen in the graph above, there is no economic profit in the long run in a monopolistically competitive market. Since if a firm is making profit, other firms will enter and produce the output making sure that no one earns any profit as there is free entry.
So. price = LRAC in the long run at the profit maximizing output where MC=MR and since it does not occur in the lowest value of AC, it will never be an efficient production even in the long run.
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