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[Week 6-3] Monopolistic CompetitionMicroeconomics

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    • Category : Social Sciences > Economics & Finance
    • Taught by : Jinhwan OH
    • Created By : Ewha Womans University
    • Offered By : Ewha Womans University
    • Date Added : 2022.11.08
    • Hits : 209
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    Monopolisitc competition is introduced as opposed to perfect competition and monopoly, with particular reference to zero profit and market power of firms. Combined with increasing returns to scale, monopolistic competition also explains agglomeration in economic geography and median voter theorem in political economy.

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