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6918121 23 Monopolistic Comp

6918121 23 Monopolistic Comp

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Published by: 9974914022 on Nov 14, 2009
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09/20/2012

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MONOPOLISTICCOMPETITION ANDOLIGOPOLY 
 
 
Objectives
Define and identify monopolistic competition
Explain how output and price are determined in amonopolistically competitive industry
Explain why advertising costs are high in amonopolistically competitive industryAfter studying this chapter, you will able to
 
 
Objectives
Explain why the price might be sticky in oligopoly
Explain how price and output are determined when thereis one dominant firm and several smaller firms in amarket
Use game theory to make predictions about price warsand competition among a small number of firmsAfter studying this chapter, you will able to

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