Questions and Answers
What type of market is monopolistic competition a combination of?
Monopoly and perfect competition
Where does monopolistic competition fall in the spectrum of market types?
Between perfect competition and monopoly
How is monopolistic competition positioned in relation to perfect competition and monopoly?
It shares characteristics with both perfect competition and monopoly
Why is monopolistic competition considered a continuum rather than a distinct point on a spectrum?
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What distinguishes monopolistic competition from perfect competition and monopoly?
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