Answer the following questions. 
Definitions:
Long-Run Profits
Long-Run Profits refer to the sustained earnings a firm can achieve over time, considering all input costs are variable and market conditions may change.
Fixed Costs
Costs that do not vary with the quantity of output produced
Monopolistically Competitive
A market structure characterized by many firms offering products that are similar but not perfect substitutes, leading to competitive yet differentiated markets.
Barriers to Entry
Economic, procedural, or regulatory obstacles that prevent new competitors from easily entering an industry or area of business.
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