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Characteristics of Monopolistic Competition
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Characteristics of Monopolistic Competition
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13. Monopolistic Competition / Characteristics of Monopolistic Competition / Problem 3
Problem 3
In a monopolistically competitive market, why are firms considered price makers?
A
They can freely enter and exit the market.
B
They are the only producers in the market.
C
They can set any price without considering competitors.
D
They have some control over price due to product differentiation.
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