3/17/2024 When firms exit a perfectly competitive industry, the market supply curve shifts to the left.Read Now![]() ![]() When products are distinctive, each firm has a mini-monopoly on its particular style or flavor or brand name. There are over 600,000 restaurants in the United States. ![]() Examples include stores that sell different styles of clothing, restaurants or grocery stores that sell different kinds of food, and even products like golf balls or soda that may be at least somewhat similar but differ in public perception because of advertising and brand names. ![]() Monopolistic competition involves many firms that compete against each other but sell products that are distinctive in some way.
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