The concept of markup under monopolistic competition would best be described as the a. attempt of firms to make their products look like those of other firms in the industry, thus "marking them up" in a similar style. attempt of firms to mark up their prices above those of their rivals. difference between the total revenue and the total cost of the monopolistic competitor. difference between the average total cost and the price of the monopolistic competitor. a. a. a.

The concept of markup under monopolistic competition would best be described as the a. attempt of firms to make their products look like those of other firms in the industry, thus "marking them up" in a similar style. attempt of firms to mark up their prices above those of their rivals. difference between the total revenue and the total cost of the monopolistic competitor. difference between the average total cost and the price of the monopolistic competitor. a. a. a.

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter10: Monopolistic Competition And Oligopoly

Section: Chapter Questions

Problem 1.2P

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