'Output decision p1 q1' presentation slideshows

Chapter 12

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Chapter 12

Chapter 12. Monopolistic Competition and Oligopoly. Monopolistic Competition. Characteristics Many firms Free entry and exit Differentiated product. Monopolistic Competition. The amount of monopoly power depends on the degree of differentiation

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Monopolistic Competition

Monopolistic Competition. Characteristics 1) Many firms 2) Free entry and exit 3) Differentiated product (but high degree of substitutability) The amount of monopoly power depends on the degree of differentiation. Examples of this common market structure include:

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