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For a school project, Siobhan is listing and categorizing different types of competing businesses that exist in her town. What two types of companies could Siobhan list as representing monopolistic competition?(1 point)
Responses
Social media computer and computer retail shop
Social media computer and computer retail shop
Car dealership and ice cream shop
Car dealership and ice cream shop
Bathing suit shop and personalized T-shirt shop
Bathing suit shop and personalized T-shirt shop
Hair salon and tattoo parlor
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Hair salon and tattoo parlor
Both are many small sellers offering differentiated services (style, reputation, location), with relatively easy entry and some pricing power — characteristics of monopolistic competition.
Both are many small sellers offering differentiated services (style, reputation, location), with relatively easy entry and some pricing power — characteristics of monopolistic competition.
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