A monopolistically competitive industry is characterized by ________ concentration ratios and ________ entry barriers.
A)high;high
B)high;low
C)low;high
D)low;low

Question

Quizplus · Accepted Answer

Monopolistically competitive industries are characterized by low concentration ratios, indicating a large number of firms with no single firm dominating the market, and low entry barriers, allowing new firms to enter the market relatively easily.

A Monopolistically Competitive Industry Is Characterized by ________ Concentration Ratios