Monopolistic competition may also be socially inefficient because there are too many or too few firms in the market. the presence of theproduct variety externality implies that there is too little entry of new firms in the market.
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Home » Business » Monopolistic competition may also be socially inefficient because there are too many or too few firms in the market. the presence of theproduct variety externality implies that there is too little entry of new firms in the market.