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2 3 4 5 6 7 8 9 10 11 12 (2 of 14) What are the assumptions under monopolistic competition? Answer: There are buyers

2 3 4 5 6 7 8 9 10 11 12 (2 of 14) What are the assumptions under monopolistic competition? Answer: There are buyers and sellers in the market - some may be large. The product firms produce is differentiated. There is free entry and exit, and perfect information

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