Explain the role of brands in a monopolistic competition market. How can the pricing and profits for a firm in this market structure differ from perfect competition and when will the two market types reach the same outcome? Why does that make it essential for firms to have a strong brand identity? Give an example of a product with this type of market structure and discuss (briefly) how the firms have established their brands.

Q: How do the results of a competitive industry compare with that of a monopolistic industry

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Q: None

A: Referencehttps://pressbooks.bccampus.ca/uvicecon103/chapter/8-3-monopolistic-competition/

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Q: monopolistic competition said to be inefficient?

A:

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