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In a monopolistic competition market, firms are monopolists of their own product
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In a monopolistic competition market, firms have a certain market power and set a price higher than the marginal cost
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In a monopolistic competition market, the entry of new competitors is restricted
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With the aim of gaining market share, firms that compete in monopolistic competition markets try to differentiate their product from the rest of competitors
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In a monopolistic competition market, firms have a certain market power and set a price equal to the marginal cost
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In monopolistic competition market, firms produce similar products but with particularities that make them unique
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A player will never choose a dominated strategy
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Cooperation between firms is equivalent to monopolistic practices
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We have a Nash equilibrium when each player chooses the best strategy for him given the choice of the other
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Collusion of companies occurs when they manage to coordinate and make joint decisions about how much to produce and/or at what price to sell
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