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firm in monopolistic competition The diagram shows a representative firm in monopolistic competition: (2) (3) (4)' 0 Q 1 Q2 Q3 Output Excess capacity for

firm in monopolistic competition

The diagram shows a representative firm in monopolistic competition: (2) (3) (4)' 0 Q 1 Q2 Q3 Output Excess capacity for this firm would be illustrated by... O Q3 - Q2 O Q3 - Q1 O Q2 - Q1 O Q2 + Q3 O Q 1 + Q3

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