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Monopolistic competition is a market structure very much lik.pdf

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Monopolistic competition is a market structure very much like perfect competition except that options: 1-Entry and exit is not permitted 2-Each firm has a strategy for how they will react to other firms price or quantity 3-Firms differentiate the characteristics of their product 4-The demand curves facing firms are perfectly price inelastic.

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Monopolistic competition is a market structure very much like perfect competition except that options: 1-Entry and exit is not permitted 2-Each firm has a strategy for how they will react to other firms price or quantity 3-Firms differentiate the characteristics of their product 4-The demand curves facing firms are perfectly price inelastic

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