Monopolistic competitors have some control over the price of their products.

Question

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Monopolistic competitors have some control over the price of their products because they differentiate their products through branding, quality, and other features that make their products distinct from their competitors. This allows them to charge a higher price and enjoy some degree of market power. However, their control over price is limited due to the availability of substitute products in the market.

Monopolistic Competitors Have Some Control Over the Price of Their