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Perfect completion and monopoly are stylized models with strong assumptions, but most real-world markets lie between perfect competition and monopoly, in the range of monopolistic
Perfect completion and monopoly are stylized models with strong assumptions, but most real-world markets lie between perfect competition and monopoly, in the range of monopolistic competition. Illustrate and explain the breadth of this range by giving two real-world examples of markets that fit the assumptions of monopolistic competition, one that is very close to fitting the assumptions of perfect competition and one of that is very close to fitting the assumptions of monopoly. you can provide answer in bullet points. provide as much relevant information as possible. you may add figures if needed. thanks
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