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:

Replenishment Cycle

The process and timeframe involved in restocking goods, from order placement to receipt and availability for sale or use.

Retailer/Distributor Interface

The relationship or interaction point between retailers and distributors in the supply chain for product distribution.

Information Flow

The movement of information through a system or process, facilitating communication and decision-making.

Product Flow

The movement of goods from supplier to customer through various stages of production, storage, and distribution.