Describe the features of monopolistic competition: a. How is it similar to monopoly? b. How is it
Question:
Describe the features of monopolistic competition:
a. How is it similar to monopoly?
b. How is it similar to perfect competition?
c. What are the characteristics of short-run equilibrium?
d. What are the characteristics of long-run equilibrium?
e. How is long-run equilibrium attained?
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The features of monopolistic competition are 1 Free entry and exit of firms There are no restrictions on the entry or exit of firms The firms enter wh...View the full answer
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Fahid Fayaz
I did my graduation from Aligarh Muslim University with 7.7 CGPA. I have almost tutored from class 12th the previous year students. I am have done Masters in Madras School of Economics with specialization in Financial Economics.
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Related Book For 
Managerial Economics Foundations of Business Analysis and Strategy
ISBN: 978-0078021909
12th edition
Authors: Christopher Thomas, S. Charles Maurice
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