The wedding dress industry is monopolistically competitive.As a result:
A) thousands of dress suppliers all sell identical products.
B) dresses tend to be differentiated among the many sellers serving this market.
C) it has freedom of entry but not exit.
D) prices tend to be lower than if the dress industry approximated perfect competition.
Correct Answer:
Verified
Q1: Monopolistic competition is characterized by:
A)free entry and
Q2: The downward-sloping demand curve for a monopolistically
Q3: Monopolistic competition is similar to perfect competition
Q4: An industry with a large number of
Q6: In monopolistic competition:
A)firms earn zero economic profits
Q7: Monopolistic competition is an industry structure characterized
Q8: A feature of monopolistic competition that makes
Q9: In monopolistic competition,each firm:
A)is a price taker.
B)has
Q10: Because most communities have a large number
Q11: Which industry is MOST likely to be
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