Firm in monopolistically competitive market

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Reference no: EM131165730

Compare and contrast the behavior of a monopolist and a firm in a monopolistically competitive market:

A. Show a graphical analysis of each firm in the short run. Explain the differences.

B. Compare your graphs from part A with graphs showing the firms in the long run. Explain the differences.

C. What are the issues the monopolistic competitor faces that the monopolist doesn’t? What characteristics are unique to a monopolistically competitive market?

D. What are the issues the monopolist faces that the monopolistic competitor doesn’t? What characteristics are unique to a monopoly market?

Reference no: EM131165730

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