Because there are low barriers to entry in a monopolistically competitive market

A) there are many firms in the industry.
B) they produce a homogeneous product.
C) the firms are price takers.
D) there is no non-price competition.

A

Economics

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Explain how economists use random experiments

What will be an ideal response?

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A minimum wage set above the equilibrium wage rate ______.

Fill in the blank(s) with the appropriate word(s).

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