Which of the following is NOT a characteristic of a Monopolistic Competition? Select one: a) Advertising b) Differentiated products c) Easy entry and exit d) Price maker e) Relatively large number of sellers
Which of the following is NOT a characteristic of a Monopolistic Competition? Select one: a) Advertising b) Differentiated products c) Easy entry and exit d) Price maker e) Relatively large number of sellers
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Which of the following is NOT a characteristic of a
Select one:
a) Advertising
b) Differentiated products
c) Easy entry and exit
d)
e) Relatively large number of sellers
Expert Solution
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Step 1
The degree of competition in a market is always referred to in these types of market arrangements. The nature of the products and services, the number of sellers, the number of consumers, and the economic scale are all factors in market systems.
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