Excess capacity is a hallmark of
A) Perfect competition
B) Monopoly
C) Oligopoly
D) Monopolistic competition
Correct Answer:
Verified
Q8: In the long-period,
A)All factors are fixed
B)Some factors
Q9: At the optimum short-run level of output,
Q10: When the perfectly competitive firm and industry
Q11: The theory of monopolistic competition was popularized
Q12: A monopolistically competitive market is distinguished from
Q14: Monopolistically competitive firms
A)Are small in size
B)Have small
Q15: Selling cost assumes paramount importance in
A)Perfect competition
B)Monopoly
C)Monopolistic
Q16: Under monopolistic competition, there can be freedom
Q17: A firm under monopolistic competition advertise because
A)To
Q18: In the case of monopolistic competition,
A)Short run
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