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According to Shahbandeh, a marketing research expert, the cosmetics giant L'Oral spent some 9.21 billion Euros on advertising and promotions worldwide in 2019, up from

According to Shahbandeh, a marketing research expert, the cosmetics giant L'Oral spent some 9.21 billion Euros on advertising and promotions worldwide in 2019, up from 6.6 billion Euros in 2014. Why do monopolistically competitive firms spend so much on product differentiation, advertisement & promotion when this practice only adds to the firm's costs?

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