A market that has no barriers to entry and many small firms selling products that are slightly different from one another is best described as:
A) monopolistic competition.
B) monopoly.
C) perfect competition.
D) oligopoly.
Correct Answer:
Verified
Q15: In practice, monopolistically competitive markets are:
A)very rare.
B)very
Q16: In practice, oligopolistic markets are:
A)fairly common.
B)very rare.
C)forbidden
Q17: Which of the following is one of
Q18: Large barriers to entry exist in which
Q19: Which type of market structure contains many
Q21: The graph shown displays the cost and
Q22: The graph shown displays the cost and
Q23: Monopolistically competitive firms behave like _ in
Q24: In the long run, monopolistically competitive firms:
Q25: The graph shown displays the cost and
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