What are the characteristics of monopolistic competition? How does this differ from perfect competition? Answer it in detail with in text citation and a minimum of three APA citation references.

What are the characteristics of monopolistic competition? How does this differ from perfect competition? Answer it in detail with in text citation and a minimum of three APA citation references.

Answer the following questions into detail. With in text citation and a minimum of three APA citation references.

1. What factors allow a firm to have monopoly profits?

2. What are the pros and cons of merger activity? Why would the government want to prevent mergers?

3. What are the characteristics of monopolistic competition? How does this differ from perfect competition?

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