Question: Type your answers under each question: C. Explain why the MR curve is below the demand curve and why the Monopolistic competitor's product has a

Type your answers under each question: C. Explain why the MR curve is below the demand curve and why the Monopolistic competitor's product has a relatively price elastic demand. D. What are the two conditions necessary for a firm with market power to price discriminate? E. When a firm price discriminates how does that benfit the firm and the consumer

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