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Author Question: One of the assumptions of monopolistic competition is that firms produce differentiated products. ... (Read 345 times)

amal

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One of the assumptions of monopolistic competition is that firms produce differentiated products. What does this assumption imply about the demand curve facing a representative firm?
 
  What will be an ideal response?

Question 2

Peet's Coffee and Teas produces some flavorful varieties of Peet's brand coffee. Is Peet's a monopoly?
 
  A) No, Peet's is not a monopoly because there are many branches of Peet's.
  B) Yes, Peet's is the only supplier of Peet's coffee in a market where there are high barriers to entry.
  C) Yes, there are no substitutes to Peet's coffee.
  D) No, although Peet's coffee is a unique product, there are many different brands of coffee that are very close substitutes.


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Kjones0604

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amal

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Reply 2 on: Jun 29, 2018
Excellent


cam1229

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Reply 3 on: Yesterday
Gracias!

 

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