For a monopoly, the entry of new firms is difficult, but not impossible.
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Q7: Perfectly competitive producers do not need to
Q8: A monopolist has a strong incentive to
Q9: Cross elasticity is higher the more perfect
Q10: Two goods must have infinite cross elasticities
Q11: Market structure is determined mainly by the
Q13: The goods produced by oligopolists are close
Q14: As new firms enter a market, the
Q15: The purpose of advertising is to shift
Q16: Typically, perfect competitors advertise their specific goods.
Q17: Cross elasticity among goods in a perfectly
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