In a city like New York, the market for stand-up comedians is likely to be monopolistically competitive.

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In a city like New York, the market for stand-up comedians is likely to be monopolistically competitive. Explain why this is. If the market is monopolistically competitive, then what can be said about prices, output, and profits in this market?

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Modern Principles of Economics

ISBN: 978-1429278393

3rd edition

Authors: Tyler Cowen, Alex Tabarrok

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Question Posted: Nov 24, 2015 08:41 AM

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In a city like New York, the market for stand-up comedians is likely to be monopolistically competitive.

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Monopolistic competition is a good description of the ma...View the full answer

Modern Principles of Economics

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