(Step-by-Step) Carefully explain what will happen as we move from the short run to a long run equilibrium in a monopolistically competitive industry if firms
Question: (12 points) Carefully explain what will happen as we move from the short run to a long run equilibrium in a monopolistically competitive industry if firms are making a positive profit in the short run. Your explanation should clearly state what will happen to the demand curve facing an individual firm and the reason why this happens.
Deliverable: Word Document 
![[See Steps] (34 total points) Suppose that](/images/solutions/MC-solution-library-56053.jpg "[See Steps] (34 total points) Suppose that two players are playing")
[See Steps] (34 total points) Suppose that two players are playing
![[Solution] (12 total points) Suppose there are](/images/solutions/MC-solution-library-56054.jpg "[Solution] (12 total points) Suppose there are 12 firms in an industry.")
[Solution] (12 total points) Suppose there are 12 firms in an industry.
![[Solution Library] Evolutionary theories often emphasize that](/images/solutions/MC-solution-library-56055.jpg "[Solution Library] Evolutionary theories often emphasize that")
[Solution Library] Evolutionary theories often emphasize that
(Steps Shown) Twenty students randomly assigned to an experimental
![[Solution Library] Do students at various colleges](/images/solutions/MC-solution-library-56057.jpg "[Solution Library] Do students at various colleges differ in how sociable")
[Solution Library] Do students at various colleges differ in how sociable
Moving Average Forecast Calculator - MathCracker.com