How are monopolistically competitive firms and perfectly competitive firms similar? Why dont monopolistically competitive firms produce the

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How are monopolistically competitive firms and perfectly competitive firms similar? Why don’t monopolistically competitive firms produce the same output in the long run as perfectly competitive firms, which face similar costs?

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Exploring Economics

ISBN: 9781439040249

5th Edition

Authors: Robert L Sexton

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Question Posted: Feb 07, 2013 05:44 AM

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How are monopolistically competitive firms and perfectly competitive firms similar? Why dont monopolistically competitive firms produce the

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Both types of firms operate in industries with many other sellers and with no real barriers to entry ...View the full answer

Exploring Economics

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