A student​ remarks: ​"If firms in a monopolistically competitive industry are earning economic​ profits, new firms will enter the industry.​ Eventually, the representative firm will find its demand curve has shifted to the​ left, until it is just tangent to its average cost curve and it is earning zero profit. Because firms are earning zero profit at that​ point, some firms will leave the​ industry, and the representative firm will find its demand curve will shift to the right. In​ long-run equilibrium, price will be above average total cost by just enough so that each firm is just breaking​ even." Is the analysis correct or​ incorrect?