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How price-elastic demand curves can be in this model

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Reference no: EM133552262

Question 1. Why does a monopolistically competitive firm reach equilibrium with 'excess capacity' in the long run ? Draw a precise that shows Chamberlin's 'Excess Capacity' theorem in long-run monopolistic competition. What factors influence how price-elastic demand curves can be in this model ?

Reference no: EM133552262

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