Please discuss the long-run equilibrium conditions for:

(1) firms in perfect competition and

(2) firms in monopolistic competition. How are they similar? How are they different? Is there a significant potential different outcome for a monopoly firm in the long-run?

This assignment should be answered by writing a 2-page response in APA format.

Be sure your response is based on the models and concepts presented in the attached power points and chapters 12 and 13 of the provided text.

Long-run equilibrium conditions