Due to Free Entry and Exit in Monopolistic Competition, in the Long

question 236

Short Answer

Due to free entry and exit in monopolistic competition, in the long run price must be equal to

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Definitions:

Personality

The combination of emotional, attitudinal, and behavioral response patterns of an individual that is distinct across people.

Humanist

An individual who adopts a worldview emphasizing the value and agency of human beings, individually and collectively, often in contrast to religious or supernatural beliefs.

Unconscious Conflicts

Internal struggles within an individual's subconscious mind often resulting from repressed feelings or thoughts that manifest in various psychological symptoms.

Incongruence

A mismatch or conflict between an individual's self-perception and reality, often leading to psychological discomfort.