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Artist 52 [7]
3 years ago
13

Difference between monopoly and monopolistic competition

Advanced Placement (AP)
1 answer:
kodGreya [7K]3 years ago
7 0

Answer:

monopolistic competition is when an industry has many firms offering products that are similar but not identical. unlike a monopoly, these firms have little power to set curtail supply or raise prices to increase profit. Monopolies dictate over a specific thing so they are the only thing that is selling.

Explanation:

google & known knowledge

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