What 4 conditions are necessary for a market to be considered monopolistically competitive?
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Answer:
Monopolistic competition - a form of imperfect competition where many competing producers sell products that are differentiated from one another (products are substitutes but, with differences, are not exactly alike).
Vincent Barroga at ChaCha Visit the source
Other answers
1. many firms must be selling the goods 2. the market must be relatively easy to enter -3. the firms must have some control over the price4. there has to be some differentiation between the products
Cara Mia
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