This video focuses on the few differences between firms that have a monopoly and firms that compete in a monopolistically competitive market structure. Monopolistically competitive firms have to continue to innovate to make profits. In the long-run, if they allow the long-run to take place (because they don't innovate) they can not make profits. This video is made for 1st year college students or AP/IB Economics students. It focuses on foundational economic concepts.

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