1. Monopolistic Competition
... differentiation. A hairdresser in Miami Downtown and another in Aventura may be pretty close substitutes, but the Miami hairdresser's service will be a very poor substitute for the services of a hairdresser in Orlando. Are they in the same industry? Or should we think of hairdressing industries as localized, so that Miami hairdressing is a different industry than ... Orlando hairdressing? And, too; barbers may cut women's hair, and hairdressers may cut men's hair. Are hairdressers and barbers part of the same industry, or different industries? There really is no ... ...
- Word Count: 2236
- Approx Pages: 9
- Has Bibliography