Monopolistic competition is characterised by:
A) few sellers, differentiated products and ease of entry and exit.
B) many sellers, differentiated products and difficult entry.
C) one seller, unique product and extremely difficult entry.
D) many sellers and buyers, differentiated products and easy entry.
Correct Answer:
Verified
Q103: Narrbegin Exhibit 9.3 Kinked demand curves
Q104: It is more difficult to evaluate oligopoly
Q105: Both homogeneous and differentiated product can be
Q106: In general, oligopolies are considered to misallocate
Q107: A monopolistically competitive firm in the long
Q109: In the long run, marginal cost must
Q110: A cartel is a legal agreement among
Q112: Extremely difficult entry to the market with
Q113: Narrbegin Exhibit 9.3 Kinked demand curves
Q162: An oligopolist operating with a kinked demand
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