The feature that distinguishes monopolistic competition from perfect competition is that monopolistically competitive firms are
A) large relative to the market.
B) price takers.
C) able to block the entry of other firms.
D) able to differentiate their products.
Correct Answer:
Verified
Q12: In San Francisco there are many retail
Q13: Perfect competition differs from monopolistic competition primarily
Q14: Monopolistic competition differs from perfect competition primarily
Q15: Firms gain control over price in monopolistic
Q16: Easy entry of new firms is not
Q18: Monopolistically competitive firms have _ market power
Q19: Monopolistically competitive firms use a(n) _ strategy
Q20: The hand soap industry is an example
Q21: Firms in a monopolistically competitive industry are
Q22: A monopolistically competitive firm influences market price
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