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Monopolistic competition and economic efficiency.
Year 2000, March.
One of the most important and basic economic issues is the theory of Market Structure. The meaning of economics as a science is the description and explanation of different ways of economic agencies' interactions through commodities, services, mediums of exchange like money, production processes and other in order to increase their wellbeing in a materialistic part of life. The satisfaction, although only partial, of either economic agency could not be achieved while acting without knowing something about the market, on which it operates. One can not predict or expect ei…
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