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30 March, 13:43

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

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  1. 30 March, 14:23
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    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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