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    monopolistically competitive firm

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    In the long run, the most helpful action that a monopolistically competitive firm can take to maintain its economic profit is to
    a. continue its efforts to differentiate its product.
    b. raise its price.
    c. lower its price.
    d. do nothing, because it will inevitably experience a decline in profits.

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    https://brainmass.com/economics/macroeconomics/monopolistically-competitive-firm-155223

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    The solution analyzes a monopolistically competitive firm.

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