chapter 13a after studying this chapter you will be able to define and identify monopolistic competition explain how output and price are determined in a monopolistic competition monopolistically competitive industry ...
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...Chapter a after studying this you will be able to define and identify monopolistic competition explain how output price are determined in monopolistically competitive industry why advertising costs high pc war games what is globalization brings enormous diversity products market with the following thousands of firms seek make their own product special characteristics different from rest pack large number dell hewlett packard lenovo acer toshiba each firm produces differentiated accounted for one half global million pcs compete on quality marketing these markets neither takers like those free enter exit perfect nor they protected by barriers entry monopoly do such choose quantity produce differentiation presence practice implies which means that makes has only small share therefore slightly limited power influence its competing sensitive average but no pays attention actions other s directly affect collusion or conspiring fix prices impossible enables three there areas so cannot earn an...