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Which of the Following Characteristics Is Common to Monopolistic Competition

Question 4

Multiple Choice
Which of the following characteristics is common to monopolistic competition and perfect competition? A)Firms produce identical products. B)Entry barriers into the industry are low. C)Each firm faces a downward-sloping demand curve. D)Firms take market prices as given.

Which of the following characteristics is common to monopolistic competition and perfect competition?


A) Firms produce identical products.
B) Entry barriers into the industry are low.
C) Each firm faces a downward-sloping demand curve.
D) Firms take market prices as given.

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