In perfect competition, entry and exit are difficult, but goods are homogeneous.
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Q18: Barriers to entry into a monopolistically competitive
Q19: There is only one firm in a
Q20: One very important feature of a monopoly
Q21: Oligopolies are known for the mutual interdependence
Q22: Two goods belonging to the same market
Q24: In the real world, perfectly competitive markets
Q25: Brand loyalty is a phenomenon associated with
Q26: Advertising is used by firms to increase
Q27: As firms gain market share, industries become
Q28: When considering the definition of "monopolistic competition,"
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