What does monopolistic competition have in common with perfect competition?
A) a large number of firms and freedom of entry and exit
B) a standardized product
C) product differentiation
D) the ability to make an economic profit in the long run
E) barriers to exit but no barriers to entry
Correct Answer:
Verified
Q1: If a large number of firms are
Q2: The freedom of entry and exit in
Q4: In monopolistic competition,the products of different sellers
Q5: What does monopolistic competition have in common
Q6: Because of the number of firms in
Q7: In both monopolistic competition and perfect competition,
A)
Q8: Monopolistic competition is a market structure in
Q9: One characteristic of monopolistic competition is that
Q10: In an industry with a large number
Q11: The women's dress industry is monopolistically competitive
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