In the long run, what happens to the demand curve facing a monopolistically competitive firm that is earning short run profits? a. the demand curve will shift to the left and became less elastic throughout the relevant range of prices. b. the demand curve will shift to the right and became more elastic throughout the relevant range of prices. c. the demand curve will shift to the left and became more elastic throughout the relevant range of prices. d. the demand curve will shift to the right and became less elastic throughout the relevant range of prices.
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In the long run, what happens to the demand curve facing a monopolistically competitive firm that is...
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