Monopolistically competitive businesses may be large or small and may enter or exit the market easily.

Name: Monopolistically competitive businesses may be large or small and may enter or exit the market easily.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Monopolistically competitive businesses have some degree of market power but face competition from other firms producing similar but not identical products. Due to the lack of significant barriers to entry or exit, businesses can easily enter or exit the market, regardless of their size.

Monopolistically Competitive Businesses May Be Large or Small and May