4 years ago

Who sets the price in a monopolistic competition?

Business

1 answer:

AnnyKZ [126]4 years ago

7 0

Answer:

Producers

Explanation:

Monopolistic competition is a form of market competition where different producers produce goods that are largely different from each other and can not even been used as a perfect substitute for one another.

This gives each producer the opportunity to decide its prices and output . Prices are always set higher than the marginal costs and the consumer surplus are less compared to a perfectly competitive market , making monopoly competition an imperfect market.

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3 years ago

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Answer:

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Preparation of the journal entry to Record the redemption of the bonds

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