Which of the following is not a characteristic of the monopolistic competition market structure?
A) Many sellers, each small in size relative to the overall market.
B) Few sellers.
C) Differentiated product.
D) Easy, low-cost entry and exit.

Question

Quizplus · Accepted Answer

Monopolistic competition is characterized by many small firms, each offering a differentiated product, and easy entry and exit into the market. Option B, which states "Few sellers," is not a characteristic of monopolistic competition. It is more indicative of an oligopoly market structure.

Which of the Following Is Not a Characteristic of the Monopolistic