Unformatted text preview: o Collusion is impossible o Each firm’s good is a close substitute to other firm’s goods o Change in price doesn’t eliminate demand completely o Long run -> no economic profit • Firms Compete On… o Quality: includes design, reliability, and service o Price o Marketing: advertising and packaging...
View Full Document
This note was uploaded on 12/14/2010 for the course ECON 2106 taught by Professor Minjaesong during the Fall '06 term at Georgia Tech.
- Fall '06
- Monopolistic Competition