Which of the following characteristics does perfect competition have in common with monopolistic competition?
A) price-taking firms
B) homogeneous products
C) no barriers to entry
D) horizontal demand curve
E) neither market advertises
Correct Answer:
Verified
Q96: As a result of the economic profit
Q97: Monopolistically competitive firms
A)are guaranteed to earn short-run
Q98: Excess capacity is defined as the difference
Q99: Which of the following is true of
Q100: In the long run, economic profit for
Q102: Although both perfectly competitive and monopolistically competitive
Q103: Excess capacity typically occurs
A)in the short run
Q104: The automobile, breakfast cereal, and tobacco industries
Q105: Monopolistically competitive firms do not achieve allocative
Q106: Monopolistically competitive firms do not achieve productive
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