Characteristics shared by monopolistically competitive markets and monopoly markets include:
A) strategic interactions among sellers.
B) many sellers.
C) firms facing a downward-sloping demand curve.
D) insignificant barriers to entry.

Question

Quizplus · Accepted Answer

Both monopolistically competitive markets and monopoly markets have firms that face a downward-sloping demand curve, meaning they have some control over the price of their products.

Characteristics Shared by Monopolistically Competitive Markets and Monopoly Markets Include