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Conditions for monopolistic competition Consider the monopolistically competitive market structure, which has some features of a perfectly competitive market and some features of a monopoly.
Conditions for monopolistic competition
Consider the monopolistically competitive market structure, which has some features of a perfectly competitive market and some features of a monopoly.
Complete the following table by indicating whether each attribute characterizes a perfectly competitive market, a monopolistically competitive market, both, or neither. Check all that apply.
tableAttributes Perfectly Competitive Market Monopolistically Competitive MarketPrice is equal to marginal costEasy entryZero profit in the long runFew sellers
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