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explain monopolistic competition. It is suggested that one way to get into a monopolistically competitive market...

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Economics

explain monopolistic competition. It is suggested that one wayto get into a monopolistically competitive market is to get afranchise for a nationally advertised product. Provide an exampleof a franchise and indicate how this is a monopolisticallycompetitive situation based on your definition.

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Monopolistic competition is a market structure in which there are a large number of buyers and sellers selling differentiated products that are substitutes for each other Characteristics of monopolistic competition 1    See Answer
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