If a firm is engaged in monopolistic competition, it should seek a way to differentiate itself.

Question

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Monopolistic competition is characterized by a large number of firms that sell differentiated products. Therefore, to stand out from the competition, a firm needs to differentiate its product or service from others in the market. This can be done through marketing, branding, and product differentiation strategies.

If a Firm Is Engaged in Monopolistic Competition, It Should