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What is the primary difference between Monopolistic Competition and Monopoly? A of producers B Qty supplied B (C) Qty demanded C D Geography

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Timoteo élite · Tutor durante 8 años
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The primary difference between Monopolistic Competition and Monopoly is the number of producers in the market.In Monopolistic Competition, there are many producers, each offering a slightly different product. This leads to some degree of market power for each producer, but also competition among them.In a Monopoly, there is only one producer that controls the entire market. This gives the monopolist significant market power and the ability to set prices without competition.So, the correct answer is A) Number of producers.