Monopolistically competitive firms, like monopoly firms, maximize their profits by charging a price that exceeds marginal cost.
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Q2: A markup of price over marginal cost
Q3: The market for wheat is most likely
Q4: There are four basic types of market
Q5: Monopolistic competition is the only market structure
Q6: Oligopoly is characterized by a few sellers
Q8: Monopolistic competition is characterized by many buyers
Q9: A monopolistically competitive market is characterized by
Q10: Monopolistic competition and monopoly are examples of
Q11: The "competition" in monopolistically competitive markets is
Q12: Monopolistic competition is characterized by a few
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