Define monopolistic competition, Select a firm in an industry that…Define monopolistic competition, Select a firm in an industry that operates in a monopolistic competition market structure. Some questions to ponder-What are the basic assumptions of a monopolistic competitor? Explain what the assumptions imply for the firm that you have chosen. -How do the assumptions you’ve identified above affect the price monopolistic competitor charges for their product/service? -What is differentiation for the monopolistic competitor you’ve chosen? BusinessEconomicsMicroeconomics ECON 100
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