A monopolistically competitive market is, by definition, constituted by a large number of firms that compete producing diferenced versions of a product. Such companies are not price-takers and they hold certain degree of power market and of control over the pricing decisions.
However, in a market that comprises so many actors in its supply side, the market power is splitted in many small units and the amount exercised by each is not very strong. Firms operating in this market structure do not have enough power to affect their rivals through their internal decisions and also not enough power to affect potential competitors and to prevent their entrance. They cannot set entry barriers to prevent the entrance of new companies in the market.
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Republicanism is a term for beliefs that have defined the American political experiment. In particular, republicanism stems from a form a government where the people are sovereign. In such a government, virtuous and autonomous citizens must exercise self-control for the common good. ... Republicanism is a complicated idea.
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War broke out in Europe in the summer of 1914, with the Central Powers led by Germany and Austria-Hungary on one side and the Allied countries led by Britain, France, and Russia on the other. At the start of the war, President Woodrow Wilson declared that the United States would be neutral.
