Features of Monopolistic Competition
Economics ⇒ Markets and Price Determination
Features of Monopolistic Competition starts at 11 and continues till grade 12.
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See sample questions for grade 11
Describe how the presence of many firms affects competition in monopolistic competition.
Describe the role of advertising in monopolistic competition.
Describe the role of brand loyalty in monopolistic competition.
Explain the concept of 'freedom of entry and exit' in monopolistic competition.
Explain the impact of free entry and exit on the profits of firms in monopolistic competition in the long run.
Explain the meaning of product differentiation in monopolistic competition.
Explain why firms in monopolistic competition engage in non-price competition.
Explain why the demand curve for a firm in monopolistic competition is more elastic than that of a monopoly.
Explain why there is excess capacity in monopolistic competition in the long run.
Name any two features of monopolistic competition.
State any one difference between perfect competition and monopolistic competition.
What is meant by 'selling costs' in monopolistic competition?
