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cheesyboots cheesyboots
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10 months ago

Because of one assumption in the theory of monopolistic competition, the excess capacity theorem exists. What is the assumption?



▸

There are many sellers and buyers.



▸

Each firm produces and sells a slightly differentiated product.



▸

There is easy entry into the industry.



▸

There is easy exit from the industry.

Textbook 
Economics

Economics


Edition: 12th
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madizmmadizm
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10 months ago
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cheesyboots Author
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10 months ago
this is exactly what I needed
klyn
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prime7105
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2 hours ago
Thanks
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