Which of the following is not a characteristic of monopolistic competition?
A) A large number of sellers.
B) Firms are price takers.
C) There is free entry into the market.
D) Sellers offer products that are, in some way, different from their competitors' products.
Correct Answer:
Verified
Q14: Monopolistic competition differs from perfect competition because
Q15: Figure 17-2 Q19: Figure 17-1 Q22: Figure 17-3 Q23: If firms in a monopolistically competitive market Q205: In the short run, a firm in Q219: In a monopolistically competitive industry, firms set Q368: The free entry and exit of firms Q378: In which of the following market structures Q523: Monopolistic competition is characterized by which of
The lines in the figures below
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