1. Conditions for monopolistic competition

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1. Conditions for monopolistic competition

Consider the monopolistically competitive market structure, which has some features of a perfectly competitive market and some features of a monopoly.

Complete the following table by indicating whether each attribute characterizes a perfectly competitive market, a monopolistically competitive market, both, or neither. Check all that apply.

Zero Profits in the Long Run

Many Sellers

Few Sellers

Identical Products

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1. Conditions for monopolistic competition

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