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In: Economics

The November 2017 iPhone X and October 2018 iPhone XS have been regarded as Apple Computer’s...

  1. The November 2017 iPhone X and October 2018 iPhone XS have been regarded as Apple Computer’s first smartphone models with innovations that fail to impress compared to the innovations of its previous models. In a monopolistically competitive industry like smartphone handsets, show through a diagram and explanation, how the quantity produced by a firm in the long run compares to the quantity a perfect competitor would produce? Are the levels of product development and efforts to advertise product differences greater than the efficient level in monopolistically competitive industries?

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Rahul Sunny answered 8 months ago
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