How is Model of Monopolistic Competition (i.e Imperfect competition)

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How is model of monopolistic competition (i.e imperfect competition) characterized?this question is part of microeconomics knowledge practice test

muhammadakram · Accepted Answer

Differentiated goodsIn monopolistic goods are differentiated and the firm faces downward sloping demand curve i.e with every increase(decrease) in price there is decrease(increase) in quantity.

How is Model of Monopolistic Competition (i.e Imperfect competition) characterized?

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How is Model of Monopolistic Competition (i.e Imperfect competition) characterized?

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