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Under monopolistic competition: Question 4Select one: a. There are few industry participants. b. Firms that raise their price will lose all their customers. c. Neither

Under monopolistic competition: Question 4Select one: a. There are few industry participants. b. Firms that raise their price will lose all their customers. c. Neither vertical nor horizontal differentiation is possible. d. Entry will reduce prices and erode market shares until economic profit equals zero. e. None of the above statements apply to monopolistic competition

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