A student makes the following comment: I can understand why a perfectly competitive firm will not earn profits in the long run because a perfectly competitive firm charges a price equal to marginal cost. But a monopolistically competitive firm can charge a price greater than marginal cost, so why can't it continue to earn profits in the long run? How would you answer this question?

Despite the fact that a monopolistically competitive firm can charge a price higher than marginal cost, in the long-run, the stiff competition, and the entry of new competitors, will shift the demand curve for the firm leftward, to a point in which the firm is obliged to lower its price to marginal cost or even lower.

For this reason, in monopolistic competition, firms should focus on product differentiation instead of price, so that demand for their demand curve does not shift leftward so much. (consumers will continue to demand their product even if its slightly more expensive because of the specific attributes that if offers).

the correct answer option is b. a single paragraph.

explanation:

when you are thinking about paragraph​ topics, you should always choose a subject that can be adequately addressed in a single paragraph.

a paragraph is a piece of writing consisting of a few sentences that deal with a single theme. it has only a single idea that the paragraph revolves around and talks about.

so a paragraph topic must be chosen wisely where a single idea can be communicated in a single paragraph.

client registration system, resource management system, clinical management system, patient information database, common use-system interface

explanation: