Solved: Define monopolistic competition and oligopolies, Microeconomics

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Define monopolistic competition and oligopolies

Question 1) Define returns to scale. Do you think that most businesses are increasing, constant, or decreasing returns to scale.

Question 2) Define monopolistic competition and oligopolies. Provide two real world examples.

Question 3) Define prisoner's dilemma. Provide a real world example.

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Microeconomics: Define monopolistic competition and oligopolies

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