In monopolistic competition,no buyer or seller has any control over the market price of a good.

Name: In monopolistic competition,no buyer or seller has any control over the market price of a good.
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Question

Quizplus · Accepted Answer

In monopolistic competition, each seller has some degree of control over the price of their product because their product is differentiated from competitors. They can adjust their price based on the perceived value of their product to consumers.

In Monopolistic Competition,no Buyer or Seller Has Any Control Over