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Critically evaluate and explain: a. In monopolistically competitive industries, economic

Critically evaluate and explain: a. In monopolistically competitive industries, economic

 Critically evaluate and explain:

a. In monopolistically competitive industries, economic profits are competed away in the long run; hence, there is no valid reason to criticize the performance and efficiency of such industries.

b. In the long run, monopolistic competition leads to a monopolistic price but not to monopolistic profits.

6. Why do oligopolies exist? List five or six oligopolists whose products you own or regularly purchase. What distinguishes oligopoly from monopolistic competition?

Abhinav 05-Dec-2019

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