Question: Respond in a paragraph format, no bullet points. 1. Monopolistic competition gets its name from being a combination of perfect competition and monopoly. How is

Respond in a paragraph format, no bullet points. 1. Monopolistic competition gets its name from being a combination of perfect competition and monopoly. How is monopolistic competition like perfect competition? How is monopolistic competition like monopoly? (Minimum 150 words)

2. Why is there so much advertising in monopolistic competition and oligopoly? Can you think of an example of a failed advertising campaign? (Minimum 150 words)

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