For a Firm in Monopolistic Competition,innovation and Product Development Are

Multiple Choice

For a firm in monopolistic competition,innovation and product development are

A) senseless because economic profit is always zero in the long run.
B) necessary in order to have a chance of making at least a short-run economic profit.
C) inconsequential because each firm produces a different product.
D) necessary to allow new firms to enter.
E) uncommon because other firms already produce similar products.