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10 questions from this quiz
Low barriers to entry and exit
Partial substitutes
Where marginal revenue equals marginal cost
Shifts leftward
Difference between Q1Q_1Q1 (at MR=MCMR=MCMR=MC) & Q2Q_2Q2 (min ATC)
Price is greater than marginal cost
Increases competition by reducing info gaps
Makes it less price elastic
Small firms can't afford minimum ad levels
Brand imaging and after-sales service
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