Characteristics of monopolistic competition

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Firms that operate in industries that have the characteristics of monopolistic competition of monopolistic competition advertise heavily just to get their brand names known and try to convince customers that their products are "unique" while the products often are only slightly different. Do you consider this to be efficient or is much of the advertising wasted money? Can you think of some products where advertising seldom occurs when consumers could use more information?

Reference no: EM131107718

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