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The clothing industry has many firms with differentiated products and no barriers to entry. The cere

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The clothing industry has many firms with differentiated products and no barriers to entry. The cere

The clothing industry has many firms with differentiated products and no barriers to entry. The cereal industry has a few firms with either identical or differentiated products and moderate barriers to entry. The food industry is characterized as ________ and the cereal industry is characterized as ________.
A) perfect competition; monopolistic competition
B) monopolistic competition; oligopoly
C) oligopoly; monopolistic competition
D) perfect competition; perfect competition
E) monopolistic competition; monopoly

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Essential Foundations of Economics

Edition: 7^th

Authors: Bade, Parkin

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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.

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