The dry cleaning industry is in monopolistic competition. In the short run, the profit-maximizing price is $10 per item and the average total cost is $6 per item. In long-run equilibrium, the profit-maximizing price is $8 per item. In long-run equilibrium, what is the economic profit of a firm in the dry cleaning industry? In long-run equilibrium, the dry cleaning firm makes $ nothing economic profit.
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