Asked by
Kaser Geova
on Oct 12, 2024Verified
Characteristics of monopolistic competition include all of the following except
A) significant barriers to entry.
B) a relatively large number of sellers and buyers.
C) small market share for each seller.
D) differentiated products.
Monopolistic Competition
A market structure characterized by many firms selling products that are similar but not identical, allowing for competition.
Barriers To Entry
Economic, procedural, or regulatory obstacles that prevent or hinder new competitors from easily entering an industry or area of business.
Number Of Sellers
The quantity of providers or sellers in a market, affecting competition and pricing dynamics.
- Comprehend the attributes and instances of monopolistic competition.
Verified Answer
KF
Learning Objectives
- Comprehend the attributes and instances of monopolistic competition.