Monopolistic competition is monopolistic up to the point at which consumers become willing to buy close-substitute products

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Monopolistic competition is monopolistic up to the point at which consumers become willing to buy close-substitute products and competitive beyond that point. Explain.

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Economics

ISBN: 978-0073375694

18th edition

Authors: Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn

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Question Posted: May 23, 2013 07:46 AM

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Monopolistic competition is monopolistic up to the point at which consumers become willing to buy close-substitute products

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As long as consumers prefer one product over another rega...View the full answer

Economics

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