paulinagutim
paulinagutim paulinagutim
  • 12-10-2016
  • Business
contestada

In monopolistic competition, what effect do price variations generally have on the market as a whole?

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johnkellock
johnkellock johnkellock
  • 13-10-2016
Little. Monopolistic competition refers to the product differentiation by different producers and sellers, and do not aim to substitute other products. In monopolistic competition, a company uses the prices charged by its rivals as given and ignores the impact of its own prices on the prices of other firms.
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