Which of the following characteristics of perfect competition does not apply in monopolistic competition?
A) Free entry and exit
B) Homogeneous products
C) Numerous participants
D) Perfect information
Correct Answer:
Verified
Q87: To understand most of today's economic activity
Q88: Monopolistic competition is common in
A)retail selling.
B)farming.
C)basic manufacturing.
D)electric
Q89: Given the characteristics: (1) many buyers and
Q90: The models of perfect competition and monopoly
Q91: Monopolies can misallocate resources by restricting output
Q93: Which of the following conditions distinguishes monopolistic
Q94: Monopolistic competition is characterized by
A)one firm selling
Q95: One market that fits the characteristics of
Q96: Under perfect competition and monopolistic competition, profits
Q97: A perfectly contestable market is one in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents