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I need explanations to these questions. I don't understand what they are asking Q1:Why is Monopolistic Competition considered less efficient than Perfect Competition? Q2:If a

I need explanations to these questions. I don't understand what they are asking

Q1:Why is Monopolistic Competition considered less efficient than Perfect Competition?

Q2:If a market has few barriers to entry and many firms, how might firms still have positive economic profit?

Q3:The market for smart phones is inefficient.Why might consumers not want the price to be regulated?

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