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How Might a Monopolistically Competitive Firm Continually Earn Economic Profit

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How might a monopolistically competitive firm continually earn economic profit greater than zero?


Definitions:

Behavior Modification

A therapeutic approach that seeks to change potentially self-destructive or unhealthy behaviors through reinforcement and punishment.

Biofeedback

A technique that teaches individuals to control bodily processes that are typically involuntary, through monitoring and feedback from electrodes.

Operant Conditioning

A method of learning that employs rewards and punishments for behavior, which was developed by B.F. Skinner to study behavior modification.

Biological Response

A physiological or biochemical reaction of an organism to a specific stimulus, including responses to environmental changes, stress, and diseases.

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