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Question
"Neo-classical theory of competition implies that more
firms in a market is the only way to improve outcomes
for ...
Point
explained
Contextualised
Analysis
Point included
Evaluation
For more firms to
enter a market,
barriers to entry
must...
Key Analysis Diagram – Monopolistic Competition (Long Run)
MC
Price
and
Cost
Output
AC
MR2
AR2
P2
Q2
In the long run equil...
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