A monopolistically competitive industry does not display in either the short-run, when firms are making , nor in the long-run, when firms are earning .

1)productive and allocative efficiency

2)economic profits and losses

3)zero profits

Explanation:

Monopolistic competition can be regarded as industry features whereby

many firms deals with similar products/ services , even though the Products are not perfect substitutes. There is very low Barriers as regards entry and exit. It shouldbe noted that A monopolistically competitive industry does not display productive and allocative efficiency in either the short run, when firms are making economic profits and losses, nor in the long run, when firms are earning zero profits

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.