How does a firm under monopolistic competition exercise partial contro

1.	How does a firm under monopolistic competition exercise partial control over price?
Answer» <html><body><p></p>Solution :A monpolistic competitive firm enjoys partial control over <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a>. It happens because by incurring heavy the firm is able to create a diferentiated <a href="https://interviewquestions.tuteehub.com/tag/image-11684" style="font-weight:bold;" target="_blank" title="Click to know more about IMAGE">IMAGE</a> of its product in the minds of consumers. <a href="https://interviewquestions.tuteehub.com/tag/products-18828" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCTS">PRODUCTS</a> are difierentiated orn the basis of brand, size, colour, shape, <a href="https://interviewquestions.tuteehub.com/tag/etc-975753" style="font-weight:bold;" target="_blank" title="Click to know more about ETC">ETC</a> <a href="https://interviewquestions.tuteehub.com/tag/buyers-906447" style="font-weight:bold;" target="_blank" title="Click to know more about BUYERS">BUYERS</a> are attracted to buy a Parloulan produat even at a relatively higher price</body></html>

How does a firm under monopolistic competition exercise partial control over price?