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Define monopolistic competition, Select a firm in an industry that operates in a monopolistic competition market structure. Some questions to ponder -What are the basic

Define monopolistic competition, Select a firm in an industry that operates in a monopolistic competition market structure. Some questions to ponder

-What are the basic assumptions of a monopolistic competitor? Explain what the assumptions imply for the firm that you have chosen.

-How do the assumptions you've identified above affect the price monopolistic competitor charges for their product/service?

-What is differentiation for the monopolistic competitor you've chosen?

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