Firms in monopolistic competition would: Select one: a. persistently realize economic profits in both the short and long run b. may realize economic profits in the long run and normal profits in the short run c. tend to incur persistent losses in both the short and long run d. tend to realize economic profits in the short run and normal profits in the long run e. none of the above

d. tend to realize economic profits in the short run and normal profits in the long run

Explanation:

Monopolistic competition can be defined as the market structure which comprises of elements of competitive markets (having many competitors) and monopoly.

Firms in monopolistic competition would tend to realize economic profits in the short run and normal profits in the long run

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