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lilricemunch lilricemunch
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A year ago
One prediction about monopolistic competition as a market structure is that it has higher unit costs than perfect competition. But it is unreasonable to conclude that monopolistic competition is therefore bad for consumers because

▸ consumers benefit from products becoming more homogeneous.

▸ higher production costs means more employment.

▸ consumers benefit from lower prices.

▸ consumers benefit because of an increase in quantity available.

▸ consumers benefit from an increased variety of products.
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Microeconomics

Microeconomics


Edition: 17th
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p071304p071304
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A year ago
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This helped my grade so much Perfect
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