Characteristic of monoplolistic competitive market structure

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1. What are the characteristics of a monoplolistic competitive market structure? 2. What are the characteristics of an oligopoly market structure? 3. Why is game theory used to explain oligopoly behavior? 4. Explain the kinked-demand theory of oigopoly? 5. How do monopolistic competition and oligopoly compare in terms of economic efficiency?

Reference no: EM131112489

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