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In a(n) ________ industry, firms are small relative to the total market.

mdagenh1

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In a(n) ________ industry, firms are small relative to the total market.

Question 1.

Firms ________ in monopolistic competition due to product differentiation.

▸ have no control over price

▸ have blocked entry

▸ gain control over price

▸ are limited in number

Question 2.

In a(n) ________ industry, firms are small relative to the total market.

▸ monopolistic

▸ monopolistically competitive

▸ oligopolistic

▸ Both monopolistically competitive and oligopolistic are correct.

Textbook

Principles of Economics

Edition: 12^th

Authors: Case, Fair, Oster

Read 90 times

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emnevius

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More solutions for this book are available here

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mdagenh1 Author

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4 years ago

Thank you for answering so quickly

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