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Question
Monopolistic competition
a. is the same as monopoly.
b. is more similar to perfect competition than to monopoly.
c. is just like monopoly, but with more market power.
d. is a combination of oligopoly and monopoly.
e. cannot legally exist in the United States because of antitrust laws.
Answer
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Related questions
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Suppose Solomon lives in a community with no price controls. What do you expect will happen if his town borders a community where there is a binding price ceiling on most products?
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