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Competition and Monopoly
Competition and Monopoly

... • Business – Price, maybe, but also on product differentiation – Individual sellers regard other sellers as competitors. Base strategy on what their competitors are doing. ...
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... analyse and consider both the needs of the market and the company’s ability to competently serve those needs – thereby making the company better informed about its customers 2. Competitor offerings and marketing positioning must also be analysed in this context so the company must consider what its ...
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... Four Conditions of Monopolistic Competition In monopolistic competition, many companies compete in an open market to sell products which are similar, but not identical. 1. Many Firms As a rule, monopolistically competitive markets are not marked by economies of scale or high start-up costs, allowin ...
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... estimated by the excess of marginal benefit (MB) of consumption over market price (P), aggregated over all units purchased  Graphically measured as the triangular area above the price and below the demand curve up to the quantity sold ...
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Review of Basics

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Market penetration

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