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MONOPOLISTIC COMPETITION, CHARACTERISTICS

The four key characteristics of monopolistic competition are: (1) large number of small firms, (2) similar but not identical products sold by the firms, (3) relative freedom of entry into and exit out of the industry, and (4) extensive knowledge of prices and technology.

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Today, you are likely to spend a great deal of time at the confiscated property police auction wanting to buy either clothing for your pet dog or an ink cartridge for your printer. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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A half gallon milk jug holds about $50 in pennies.
"A ship ought not to be held by one anchor, nor life by a single hope. "

-- Epictetus, philosopher

ANOVA
Analysis of Variance
A PEDestrian's Guide
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