Ask Question
12 June, 05:13

How is price and output determined undr monopolistic competition?

+3
Answers (1)
  1. 12 June, 07:31
    0
    Monopolistic competition refers to a type of economy where there is only one organization in the market. Therefore, the influence of competitors is non-existent and the consumer has little influence over price or output.

    In this case, price and output are determined by the firm's equilibrium price and output, not the market.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “How is price and output determined undr monopolistic competition? ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers