monopolistic competition. B) It is easier for sellers to enter a market or industry characterized by monopolistic competition. C) In a perfectly competitive market, products are more dissimilar. D) In a market characterized by monopolistic competition, individual firms have some control over price
6. A new feature on the latest iPhone has made it wildly popular. Which action should
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iPhone take to maximize profits
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A) Increase the supply of the smart phone. B) Decrease the supply of the smart phone.
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C) Reduce the
7. How does
competition.
C) In a
control over price.
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