One difference between perfect competition and monopolistic competition is that
A) in perfect competition the products are differentiated while in monopolistic competition the products are homogeneous.
B) in perfect competition the products are homogeneous while in monopolistic competition the products are differentiated.
C) in perfect competition there are a large number of sellers while in monopolistic competition there is only one seller.
D) in perfect competition the firm faces a perfectly inelastic demand while in monopolistic competition the firm faces a perfectly elastic demand.
Correct Answer:
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Q1: Which of the following is NOT a
Q2: The type of product sold by a
Q3: The most common form of market structure
Q5: One difference between perfect competition and monopolistic
Q6: Monopolistic competition is a form of
A) barrier
Q7: In the long run, the monopolistic competitor
Q8: One difference between monopoly and monopolistic competition
Q9: One of the differences between perfect competition
Q10: Which of the following is the best
Q11: Which one of the following is true
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