Economic statement related to pricing structure

Reference no: EM1311185

1) Agree or disagree and explain: In a monopolistically competitive market, firms that innovate successfully can increase their economic profits and lock in higher market shares over the long run.

2) Bookstores often offer annual paid memberships that allow customers to purchase books at a 10% discount. Explain why this may increase profits of the bookstore.

Reference no: EM1311185

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