Both the perfect competitor and the monopolistic competitor produce at the point where price equals marginal cost.
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Q113: Monopolistically competitive firms engage in nonprice competition.
Q114: By building a loyal customer base through
Q115: The demand curve facing the monopolistic competitor
Q116: The large number of close substitutes available
Q117: Both the perfect competitor and the monopolistic
Q119: Both the perfect competitor and the monopolistic
Q120: Both the perfect competitor and the monopolistic
Q121: The entry of new firms into an
Q122: While the monopolistic competitor earns zero economic
Q123: In monopolistic competition, firms can earn positive
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