Monopolistic competition and perfect competition differ because
A) only monopolistically competitive firms will set MR = MC.
B) only perfectly competitive firms will set MR = MC.
C) only monopolistic competition allows for entry of other firms in the long run.
D) only competitive firms take the price as given.
Question 2
If an incumbent threatens to retaliate against entry, but its profits are greater under accommodated entry than under the proposed threat, potential entrants will ignore the threat.
What will be an ideal response?
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Competition among Paramecium species.
Alexander Fleming photographed in his lab where he observed the natural competition between a fungus
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Perfect Cubes