Monopolistically competitive markets differ from perfectly competitive markets due to (i) the number of sellers.
(ii) the barriers to entry.
(iii) the product differentiation among the sellers.

Question

Monopolistically competitive markets differ from perfectly competitive markets due to (i)	the number of sellers.
(ii)	the barriers to entry.
(iii)	the product differentiation among the sellers.

Quizplus · Accepted Answer

Monopolistically competitive markets are characterized by product differentiation among sellers, unlike perfectly competitive markets where products are homogeneous. The number of sellers and barriers to entry are not distinguishing factors between these two market structures.

Monopolistically Competitive Markets Differ from Perfectly Competitive Markets Due to (I) the