Monopolistically competitive firms, like gas stations, are similar to perfectly competitive firms, like almond growers, because both industries: have a small number of producers. produce differentiated products. have free entry and exit in the long run. have barriers to entry.

Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter10: Monopolistic Competition And Oligoply
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Monopolistically competitive firms, like gas stations, are similar to perfectly competitive firms, like almond
growers, because both industries: have a small number of producers. produce differentiated products.
have free entry and exit in the long run. have barriers to entry.
Transcribed Image Text:Monopolistically competitive firms, like gas stations, are similar to perfectly competitive firms, like almond growers, because both industries: have a small number of producers. produce differentiated products. have free entry and exit in the long run. have barriers to entry.
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