Which of the following is not a requirement for the existence of monopolistic competition in a market?
A)Numerous small sellers
B)Full information about the market among buyers and sellers
C)Product homogeneity
D)Freedom of entry into the market

Question

Quizplus · Accepted Answer

Product heterogeneity is a requirement for monopolistic competition, meaning that firms in the market are selling differentiated products that are similar but not identical. The other three options (numerous small sellers, full information, and freedom of entry) are all characteristics of monopolistically competitive markets.

Which of the Following Is Not a Requirement for the Existence