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Unformatted text preview: Explain in detail both monopolistic and perfect competition. How are they both alike and how do they differ? Selected Answer: There are many consumers buying products from many sellers in both monopolistic and perfect competition. And sellers have little control over the price. Question 3 5 out of 5 points The difference between them are that under the monopolistic competition sellers sell differentiated products and for the perfect competition sellers sell standardized products. Feedback: [None Given] Question 4 5 out of 5 points If you were to start a business, what form of business would you select? In your answer be clear as to the advantages you believe the form of business you choose will give you. Selected Answer: Feedback:...
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- Spring '07