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Unformatted text preview: close substitutes. All this makes the market situation highly complex through continuous actions and reactions of the firms. In order to simplify the analysis under such a market, Chamberlin has made certain assumptions. Two of these assumptions deserve special reference. Chamberlin has called them Heroic assumptions ....
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This note was uploaded on 11/26/2011 for the course EC ec 201 taught by Professor - during the Fall '10 term at Montgomery.
- Fall '10
- Monopolistic Competition