Prices
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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
https://brainmass.com/economics/price-levels/prices-monopolistically-competitive-markets-19654
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The difference is the cost of:
b. market power
Because in monopolistically ...
Solution Summary
The prices in monopolistically competitive markets are examined.
$2.49