Which of the following is NOT a characteristic of monopolistic competition?
A) few firms compete
B) easy entry and exit
C) small market share
D) differentiated product
E) no barriers to entry or exit

Question

Quizplus · Accepted Answer

Monopolistic competition is characterized by many firms competing, easy entry and exit, differentiated products, and small market shares. The absence of barriers to entry and exit is also a characteristic of monopolistic competition. Therefore, the choice that is not a characteristic of monopolistic competition is "few firms compete".

Which of the Following Is NOT a Characteristic of Monopolistic