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In monopolistic competition, the products of different sellers are assumed to be
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The question asks: In monopolistic competition, the products of different sellers are assumed to be
In typical monopolistic competition, firms sell products that are close substitutes but are not perfect substitutes; they are similar yet differentiated, allowing each firm some market power over its own product.
Since the provided answer indicates option b is that the products are 'similar but slightly different,' here is how that aligns with theory:
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