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Why do we say that a monopolistically competitive firm has some degree of market power?

Krazil

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2 years ago

Why do we say that a monopolistically competitive firm has some degree of market power?

Why do we say that a monopolistically competitive firm has some degree of market power?

▸ There are few firms in the industry.

▸ It always makes positive profits.

▸ There are natural barriers to entry.

▸ There are legal barriers to entry.

▸ It sells a differentiated product.

Textbook

Microeconomics

Microeconomics

Edition: 17^th

Author: Ragan

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