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    When prices in monopolistically competitive markets exceed those in a perfectly competitive equilibrium, this difference is the cost of:
    a. information
    b. market power
    c. inefficiency
    d. product differentiation

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    https://brainmass.com/economics/price-levels/prices-monopolistically-competitive-markets-19654

    Solution Preview

    The difference is the cost of:
    b. market power

    Because in monopolistically ...

    Solution Summary

    The prices in monopolistically competitive markets are examined.

    $2.49

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