List the three key attributes of monopolistic competition. • Draw and explain a diagram to show the long-run equilibrium in a monopolistically com- petitive market. How does this equilibrium differ from that in a perfectly competitive market

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Q: AUse the graph below to explain the output, profit and loss conditions for monopolistically…

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Q: (i) Use the graph below to explain the output, profit and loss conditions for monopolistically…

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Q: 1. How might a monopolistically competitive firm continue to earn an economic profit?

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Q: draw and explain a diagram to show the long run equilibrium in a monopolistically competitive…

A: The three key attributes of monopolistic competition is listed below.   Large number of sellers:…

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