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If Monopolistically Competitive Firms Have Some Control Over the Prices

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Essay

If monopolistically competitive firms have some control over the prices they charge,why do they experience zero economic profits in the long run?


Definitions:

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A strip of material with an adhesive on one side, used for binding or attaching objects together.

Accompany

To go along with someone as a companion or to be present with them in some activity or context.

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The action of arranging, controlling, and planning the time and resources for tasks, events, or activities to optimize efficiency.

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