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Write a short (2-3 page, double-spaced, typed) essay identifying and describing the conditions you observed for a business in Monopolistic Competition or a Differentiated Oligopoly who differentiates their product. Your paper should also provide brief market analysis including the state of the market before and after the differentiation, as well as the observed changes that resulted. Specifically, the following questions should be addressed:
Evaluate whether the decision to differentiate the product was a good economic decision for that business at that time. That is, were economic or normal profits realized as a result?