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Monopolistic Competition

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What are the monopolistic and the competitive elements of monopolistic competition? Please help.

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Hello,

Please find my response below to your question. I have done my best to answer your question to the best of my ability. I hope you find the response excellent. Thanks and good luck.

Monopolistic competition is a common market form. Many markets can be considered monopolistically competitive, often including the markets for restaurants, cereal, clothing, shoes and service industries in large ...

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