In both monopolistically competitive and perfectly competitive industries
A) firms produce products for which there are no close substitutes.
B) there are high barriers to entry.
C) there are many buyers and sellers.
D) firms are price takers.
Correct Answer:
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Q189: Excess capacity is a characteristic of monopolistically
Q190: If a firm has excess capacity, then
A)the
Q191: Figure 13-17 Q192: Figure 13-18 Q193: Which of the following statements is true Q195: Compared to a perfectly competitive firm, the Q196: In the long run, firms in both Q197: Consumers benefit from monopolistic competition by Q198: Figure 13-17 Q199: In contrast with perfect competition, excess capacity Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)being able
