chapter 7, section 3: guided reading -...
TRANSCRIPT
A. As You ReadAs you read Section 3, fill in the information requested on the charts.
Chapter 7 Section 3: Guided Reading and Review 39
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Section 3: Guided Reading and Review
Monopolistic Competition and Oligopoly
NAME CLASS DATE
Monopolistic Competition Market Structures
Oligopoly
DefiningConditions
Forms ofNonpriceCompetition
Price-OutputRelationship
Curbs onHigh Profits
ConsumerAdvantages
ConditionsEncouragingFormation
Practicesthat ConcernGovernment
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B. Reviewing Key TermsRead the statements below. In the space provided, write T if the statement is true or F if it is false.
19. Firms selling identical products create monopolistic competition.
20. Providing better customer service, introducing a new lipstick color, and sophisticatedadvertising are examples of nonprice competition.
21. Price fixing is an outcome of collusion.
22. A cartel is most successful when each member produces as much product as possible.
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