1) In monopolistic competition, the competitive environment includes relatively easy-access to market-relevant profit-earning information

1) In monopolistic competition, the competitive environment includes relatively easy-access to market-relevant profit-earning information. Monopolistic competition is also affected by the conditions of easy-entry and easy-exit. How do these market conditions in monopolistic competition affect the individual demand curves of incumbent industry firms, when new firms join the industry in response to information that firms in the industry can earn above-normal profit? 

2.Will the entry of new competing firms continue until all firms in the industry earn just a normal profit? Explain the logic.