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steposvetlana [31]
2 years ago
15

hich of the following conditions is characteristic of a monopolistically competitive firm in both the short run and the long run

Business
1 answer:
Nana76 [90]2 years ago
8 0

The conditions are numerous businesses, distinctive products, and open admission.

What is monopolistic competition?
An industry with a lot of companies offering similar (but not identical) replacement goods or services is known as one with monopolistic competition. In a monopolistic competitive industry, there are few barriers to entry and exit, and no firm's decisions directly affect those of its rivals.
Consumers are likely to be familiar with a variety of industries that exhibit monopolistic competition in their daily lives. Restaurants, hair salons, apparel, and consumer gadgets are a few examples. We'll take the case of home cleaning supplies to demonstrate the features of monopolistic competition.

To know more about monopolistic competition, check the link below,
brainly.com/question/13138241
#SPJ4

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