Which is a characteristic of monopolistic competition?
A) Standardized product
B) A relatively small number of firms
C) Absence of nonprice competition
D) Relatively easy entry

Question

Quizplus · Accepted Answer

Monopolistic competition features a large number of firms, low barriers to entry, differentiated products, and non-price competition. Thus, a characteristic of monopolistic competition is relatively easy entry.

Which Is a Characteristic of Monopolistic Competition