6 Dec 2021
Problem 5
Page 252
Section: REVIEW QUESTIONS
Chapter 10: Monopolistic Competition and Oligopoly
Textbook ExpertVerified Tutor
6 Dec 2021
Introduction
Product Differentiation is a way by which the firms try to differentiate their products from other firm’s products by several ways like changing tastes, styles or through branding.
Monopolistic Competition is a kind of imperfect competition where there are large number of producers, each sell differentiated products and there is freedom of entry and exit in the long run.
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