What you’ll learn to do: explain the difference between short run and long run equilibrium in a monopolistically competitive industry When others notice a monopolistically competitive firm making profits, they will want to enter the market. These new firms entering the market will drive the economic profits towards zero in the long-run. LEARNING ACTIVITIES The learning activities for this section include the following: Reading: Monopolistic Competitors and Entry Self Check: Short Run and Long Run Equilibrium Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section. CC licensed content, Original Authored by : Steven Greenlaw and Lumen Learning. License : CC BY: Attribution