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Suppose that you and a competitor have brands focusing on different features of your product (for example, you both sell smoothies and they advertise ethical

Suppose that you and a competitor have brands focusing on different features of your product (for example, you both sell smoothies and they advertise ethical sourcing and you advocate health benefits). Customers have strong allegiances to one brand or another. Industry profits are likely:

Closer to profits under Perfect Competition

Closer to monopoly profits

Give proper explanation

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