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AP Microeconomics
Unit 4 – Imperfect Competition
Topic 4.4
In monopolistic competition, firms can earn economic profits in the short run if:
Barriers to entry prevent new firms from entering the market
Average total cost exceeds price
Price is set at the level of marginal cost
Demand is perfectly elastic
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AP Microeconomics - 4.4 Monopolistic Competition
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Economic Profits
Monopolistic Competition
Short Run
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About Fiveable
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Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Crisis Text Line
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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