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2 July, 17:02

In monopolistic competition firms gain some degree of market power

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  1. 2 July, 20:54
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    They gain some degree of power by means of differentiating their products from those of other firms in the industry. Remember that a monopolistic competition is the one where many firms selling products that are similar but not identical which is very different from oligopoly and the one known as imperfect competition
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