Why Is It That a Monopolistically Competitive Firm Cannot Earn

question 31

Essay

Why is it that a monopolistically competitive firm cannot earn positive economic profits in the long run?

---

Definitions:

Myopia

A refractive error in the eye where light focuses in front of, instead of on, the retina, causing distant objects to appear blurred.

Antibiotic Eyedrops

Medicated drops used to treat bacterial infections of the eye, preventing or limiting the spread of bacteria.

Levator Palpebrae Superioris

A muscle in the orbit that elevates the upper eyelid.

Inferior Oblique

A muscle in the eye that participates in the outward and upward movement of the eyeball, one of six extraocular muscles that control eye movements.