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Which of the following statements is correct? 0 Monopolistic competition is similar to perfect competition because both market structures are characterized by excess capacity. 0

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Which of the following statements is correct? 0 Monopolistic competition is similar to perfect competition because both market structures are characterized by excess capacity. 0 Monopolistic competition is similar to monopoly because both market structures are characterized by patents. O Monopolistic competition is similar to perfect competition because both market structures are characterized by each seller being small compared to the market. 0 Monopolistic competition is similar to oligopoly because both market structures are characterized by free entry

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