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Please don't use answer already out there Section 1 covers monopolistic competition; one thing that establishes this market structure is firms who make similar, but
Please don't use answer already out there
Section 1 covers monopolistic competition; one thing that establishes this market structure is firms who make similar, but not identical products through what is defined as differentiated products. For this discussion, your task is to:
- Pick one way in which products can be differentiated.
- Identify a good purchased by a firm that experiences this method of differentiation from their competition.
- Explain how this method of differentiation increases or decreases (or both within different populations) the demand for your specific good.
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