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Pavitar Parkash Singh, Lovely Professional University Unit-14: Theory of Monopolistic Competition

Notes
Unit-14: Theory of Monopolistic Competition

CONTENTS

Objectives
Introduction

14.1 What is Monopolistic Competition?

14.2 Characteristics of Monopolistic Competition
14.3 Profit Maximization or Equilibrium Under Monopolistic Competition

or
Determination of Price and Output Under Monopolistic Competition

14.4 Short-Run Equilibrium in Monopolistic Competition
14.5 Long-Run Equilibrium in Monopolistic Competition

14.6 Excess Capacity

14.7 Is Excess Capacity Wasteful?
14.8 Empirical Evidence

14.9 Non-price Competition
14.10 Selling Costs

14.11 Summary

14.12 Keywords
14.13 Review Questions

14.14 Further Readings

Objectives

After studying this unit, students will be able to:
• Know about Monopolistic Competition.
• Read about Excess Capacity.
• Know about Non-Price Competition.
• Know about Selling Costs.

LOVELY PROFESSIONAL UNIVERSITY 265