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Monopolistic Competition- Short Run and Long Run- Micro 4.12

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•Many buyers and sellers
• Sells similar and unique products
•There are few barriers to get into the market

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An American company that designs and sells sports apparel, equipment and accessories. Nike is a monopolistic competition because their products are a little different from their competitors like Under Armour and Adidas.

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•Companies may charge more
• sellers use advertising to differentiate their products

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• There are no significant barriers to enter the market
• More efficient than a monopoly