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recall that a monopolistically competitive firm has limited market power; by using certain strategies, changing the price of its products can result in higher market
recall that a monopolistically competitive firm has limited market power; by using certain strategies, changing the price of its products can result in higher market share in short-run. Assume that the mean price of French wine is 20 in your local-wine store which operates in monopolistically competitive market. The variance is given as 67.24. it is known that the price of French wines is normally distributed. Determine the pricce of the wine that. can to put your local-wine store in the top 10% sellers in this market
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