What explains the popularity of the Dollar Shave Club? What dilemma does Schick and Gillette face in deciding to create their own lines of inexpensive subscription-based razors? What does this indicate about the welfare value to customers of the innovation in razors?

1, Use the three conditions for monopolistic competition discussed in the chapter to decide which of the following firms are likely to be operating as monopolistic competitors. If they are not monopolistically competitive firms, are they monopolists, oligopolists, or perfectly competitive firms?

a. A local band that plays for weddings, parties, and so on

b. Minute Maid, a producer of individual-serving juice boxes

c. Your local dry cleaner . A farmer who produces soybeans