If monopolistically competitive firms have some control over their prices, why don't they set price above average

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If monopolistically competitive firms have some control over their prices, why don't they set price above average total cost so they will realize an economic profit in the long run?

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Exploring Economics

ISBN: 9781439040249

5th Edition

Authors: Robert L Sexton

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Question Posted: Nov 24, 2017 10:41 AM

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If monopolistically competitive firms have some control over their prices, why don't they set price above average

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Entry is relatively easy in monopolistic competition If a r...View the full answer

Exploring Economics

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