Monopolistic competition is characterised by:
A) few sellers, differentiated products and ease of entry and exit.
B) many sellers, differentiated products and difficult entry.
C) one seller, unique product and extremely difficult entry.
D) many sellers, differentiated products and easy entry.
Correct Answer:
Verified
Q101: The number of sellers is the largest
Q104: It is more difficult to evaluate oligopoly
Q107: A monopolistically competitive firm in the long
Q108: Exhibit 9-3 Kinked demand curves
Q109: In the long run, marginal cost must
Q112: Extremely difficult entry to the market with
Q116: An increase in marginal cost that remains
Q118: In the short run, the monopolistically competitive
Q119: One of the differences between perfect competition
Q120: Firms in monopolistic competition are price takers.
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