In case you didn't get it through my amazing teaching....here is a short clip explaining the theory in more detail:
Related questions:
Minicab taxi firms are best described by the model of monopolistic competition. Which
of the following will be true for such firms in long-run equilibrium?
Productive efficiency Profit Product
A Yes Supernormal Homogenous
B No Normal Differentiated
C Yes Normal Homogenous
D No Supernormal Differentiated
E Yes Normal Differentiated
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