A characteristic of monopolistic competition is a. a low ratio of fixed to variable costs. b. product differentiation. c. a high capital-output ratio. d. the absence of advertising.
A characteristic of monopolistic competition is a. a low ratio of fixed to variable costs. b. product differentiation. c. a high capital-output ratio. d. the absence of advertising.
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter10: Monopolistic Competition And Oligopoly
Section: Chapter Questions
Problem 10PAE
Related questions
Question
A characteristic of monopolistic competition is
a.
a low ratio of fixed to variable costs.
b.
product differentiation.
c.
a high capital-output ratio.
d.
the absence of advertising.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you