Which of the following is NOT a characteristic of firms in a monopolistically competitive market?

Question

Quizplus · Accepted Answer

Monopolistically competitive firms do not have significant economies of scale, as each firm produces at a relatively small scale due to the differentiation of their products. The other characteristics listed (advertising, differentiated products, and ease of entry and exit) are all typical of firms operating in a monopolistically competitive market.

Which of the Following Is NOT a Characteristic of Firms