Which of the following is NOT a characteristic of monopolistic competition?

A) Some degree of control over price
B) A tendency to rely on non-price competition
C) A horizontal demand curve
D) Some degree of product differentiation

Monopolistic Competition

A market structure in which many firms sell products or services that are similar but not identical, allowing for some degree of market power and product differentiation.

Non-price Competition

A strategy where businesses compete on factors not related to price, such as product quality, service, or brand reputation.

Horizontal Demand Curve

A horizontal demand curve represents a situation in economics where the demand for a product is perfectly elastic, meaning consumers would buy an infinite quantity at a certain price but none if the price increases.