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AP Microeconomics
Unit 4 – Imperfect Competition
Topic 4.4
Unit 4 – Imperfect Competition
4.4 Monopolistic Competition
mixed difficulty
In monopolistic competition, firms may engage in non-price competition because:
They lack market power
Product differentiation is possible
Price is the only differentiating factor
Consumer preferences are solely based on price
Study guides (1)
AP Microeconomics - 4.4 Monopolistic Competition
Key terms
Monopolistic Competition
Non-price competition
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