One thing that makes monopolistic competition similar to perfect competition is that, in the
long run, both are guaranteed a positive economic profit.
short run, both are guaranteed a positive economic profit.
short run, neither can earn a positive economic profit.
long run, both will earn zero economic profit.
Step 1: Select the option you believe is correct.
Step 2: Justify your choice by either explaining its correctness or identifying an incorrect option and discussing why it is not correct. Utilize the theories covered in the course for your explanation, and provide necessary calculations to support your argument, if required.