Tuesday, October 14, 2014

Economics

Homework due Monday, October 20

Economics in Our Times, pp 157-161 (including the green pages)

Write answers to the following questions:
            1.  What are the three defining conditions that characterize monopolistic competition?
            2.  Give two examples of a monopolistically competitive market
            3.  To what extent do monopolistically competitive firms have any control over price?

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