Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 13 - Monopolistic Competition and Oligopoly - Discussion Questions - Page 301: 1

Answer

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Work Step by Step

Monopolistic competition is characterized by a few firms having the majority of the control over the market. While there are pure monopolies, there is also monopolistic competition, where a few firms dominate nearly the entire market.
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