The characteristic below that is not common to monopolistic competition and perfect competition is _____.
A) firms act to maximise profit
B) entry barriers into the industry are low
C) the market demand curve is downward sloping
D) firms take market prices as given
Correct Answer:
Verified
Q2: Which is true if a firm faces
Q5: Which of the following is true for
Q5: For a monopolistically competitive firm, marginal revenue
A)equals
Q7: Table 9.1 Q14: Which of the following is not an Q15: A monopolistically competitive firm will Q17: If the demand curve for a firm Q18: When a monopolistically competitive firm cuts its Q18: What is a major difference between monopolistic Q19: The reason that the coffeehouse market is
A)charge the same
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