(Steps Shown) Explain in words (a paragraph and perhaps a diagram should suffice) why in a monopolistically competitive equilibrium with homogeneous goods
Question:
Explain in words (a paragraph and perhaps a diagram should suffice) why in a monopolistically competitive equilibrium with homogeneous goods the industry produces too little output.
Deliverable: Word Document 
![[Solution] Consider a market for white color](/images/solutions/MC-solution-library-50275.jpg "[Solution] Consider a market for white color T-shirts, which we")
[Solution] Consider a market for white color T-shirts, which we
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