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wlad13 [49]
3 years ago
14

How is price and output determined undr monopolistic competition?​

Business
1 answer:
konstantin123 [22]3 years ago
7 0

Monopolistic competition refers to a type of economy where there is only one organization in the market. Therefore, the influence of competitors is non-existent and the consumer has little influence over price or output.

In this case, price and output are determined by the firm's equilibrium price and output, not the market.

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