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Yes gold does belong to monopolistic competition. The main feature of monopolistic competition is product differentiation which is quite prevalent in.
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1) Assume that the goldmining industry is competitive. a) Illustrate a longrun equilibrium using diagrams for the gold market and for the a representative gold mine.
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Monopolistic competition is a middle ground between monopoly, on the one hand, and perfect competition (a purely theoretical state), on the other, and combines ...
Definition of monopolistic competition: A market structure in which several or many sellers each produce similar, but slightly differentiated products....
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