A monopolistic competitor has the following information on cost and demand. 
What will the firm's profits equal in the long run?
Definitions:
Wage Rate
The fixed amount of compensation paid to employees for their labor, typically expressed as a rate per hour.
Derived Demand
Defines the demand for a good or service that results from the demand for another good or service.
Equilibrium Wage
The wage rate at which the quantity of labor supplied equals the quantity of labor demanded.
Labor Demand Curve
A graphical representation showing the relationship between the wage rate and the quantity of labor that employers are willing to hire.
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