Monopolistic Competition - Long Run Analysis I A Level and IB Economics

This is a topic video looking at the long run analysis for monopolistic competition. In the long run equilibrium in monopolistic competition, the representative firm in the market is making normal profits. In reality, a stable equilibrium may not be reached since new products come and go, and some do better than others. The market will be in a state of constant flux.

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• #monopolistic_competition
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• #normal_profits
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• #a_level_microeconomics