Monopolistic competition differs from perfect competition only with respect to ________. a) the number of fi rms
Question:
Monopolistic competition differs from perfect competition only with respect to ________.
a) the number of fi rms in the industry
b) product differentiation
c) barriers to entry
d) economies of scale
Transcribed Image Text:
Price (S) Figure 1 Output MC MR ATC D
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ANSWER The correct answer is b product differentiation Explanation In monopolistic comp...View the full answer
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