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4 September, 16:23

In monopolistic competition firms gain some degree of market power

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  1. 4 September, 16:43
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    They gain some degree of power by means of differentiating their products from those of other firms in the industry. Remember that a monopolistic competition is the one where many firms selling products that are similar but not identical which is very different from oligopoly and the one known as imperfect competition
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