Chapter 7
Published on Dec 05, 2015
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PRESENTATION OUTLINE
Monopolistic Competition; many companies compete in an open market to sell products that are similar but not identical.
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Monopolistic competition as a modified version of perfect competition with minor differences in products.
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Example of monopolistically competition market is the market for jeans, denim pants, shoes, clothes,a and cosmetics.
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Example Include bagel shops, ice cream stands, gas stations, and retail stores.
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