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  • 19-01-2022
  • Social Studies
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Who sets the price in a monopolistic competition

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s906236
s906236 s906236
  • 19-01-2022

, In monopolistic competition, firms make price/output decisions as if they were a monopoly. They will produce where marginal revenue equals marginal cost., Free entry into the market may ultimately shrink the economic profits of monopolistically competitive firms.

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