Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 13 - Monopolistic Competition and Oligopoly - Discussion Questions: 11

Answer

The answer is below.

Work Step by Step

Improving one's product and advertising are beneficial for companies that have monopolies if they look to make a profit. After all, even if you have a monopoly over an industry, you want to stir up demand so you can sell things for the highest price in the highest quantity possible.
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