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3a. Explain what happens if you become a Price Taker and how your jewelry store is impacted. 3b. Explain what happens if you become engaged
3a. Explain what happens if you become a Price Taker and how your jewelry store is impacted.
3b. Explain what happens if you become engaged in monopolistic competition.
NOTE: FOR BOTH PARTS "3" AND "4," YOU NEED TO ILLUSTRATE A PERFECTLY COMPETITIVE AND MONOPOLISTIC COMPETITION MODEL
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