Monopolistic Competition and Economic Profit
Watch this video about how the monopolistic competition market is depicted in a graph. Also, make sure that you understand how economic profit is determined in this market when marginal revenue is set to marginal cost.
Source: Khan Academy, http://www.khanacademy.org/finance-economics/microeconomics/v/monopolistic-competition-and-economic-profit
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Last modified: Wednesday, February 24, 2021, 5:14 PM