《西方经济学》双语课件PPTch17-Monopolistic Competition.pptVIP

In this chapter, look for the answers to these questions: How is monopolistic competition similar to perfect competition? How is it similar to monopoly? How do monopolistically competitive firms choose price and quantity? Do they earn economic profit? In what ways does monopolistic competition affect society’s welfare? What are the social costs and benefits of advertising? Introduction to Monopolistic Competition Monopolistic competition: a market structure in which many firms sell products that are similar but not identical. Examples: apartments books bottled water clothing fast food ni