monopolistic competition Flashcards by David Kaplunov

Q

number of firms in industry

A

many

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Q

product

A

differentiated

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Q

barriers to entry

A

none

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Q

firm’s control over price

A

some

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Q

concentration ratio

A

low

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Q

HHI

A

less than 2,500

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Q

examples

A

pizza, fast food, clothing

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