Discussion Post
• Explain the key differences between perfect competition and monopolistic competition
• Assume these firms in the short run are earning above-normal profits.
• Explain what will happen to these profits in the long run for the following markets:
o Pure monopoly
o Oligopoly
o Monopolistic competition
o Perfect competition.
The response should include a reference list. Using double-space, Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.