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    A monopolistically competitive market

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    What is required for a market to be considered monopolistically competitive? How does the equilibrium in a monopolistically competitive market resemble that in a perfectly competitive market? How are they different?

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    https://brainmass.com/economics/pricing-output-decisions/monopolistically-competitive-market-45068

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    A monopolistically competitive market is one in which many firms produce similar but differentiated products. Each firm gains some market power from product differentiation and thus ...

    Solution Summary

    A monopolistically competitive market is explored.

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