Which of the following characteristics provide a monopolistically competitive firm some monopoly power?

A) significant barriers to entry into the industry
B) product differentiation
C) a low concentration ratio in the industry
D) price discrimination

Barriers to Entry

Factors that prevent or hinder new firms from entering an industry, including high startup costs and regulatory restrictions.

Product Differentiation

The process by which companies distinguish their products from those of competitors in the eyes of consumers, through unique features, design, quality, or branding.

Concentration Ratio

A measure used to determine the market share or relative size of the top firms in an industry as an indicator of the level of competition.