Which Characteristic Is NOT Indicative of Monopolistic Competition

question 177

Multiple Choice

Which characteristic is NOT indicative of monopolistic competition?

• A)product differentiation
• B)a lack of barriers to entry and exit in the long run
• C)many competing producers
• D)tacit collusion

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Definitions:

Rehearsal

A cognitive process involving the repetition of information to facilitate its encoding and store it in long-term memory.

Chunking

A strategy for improving memory by organizing items into conceptually manageable and meaningful groups or “chunks.”

Engram

The hypothetical physical unit of storage of a memory in the brain.

Limbic System

A group of interconnected structures in the brain involved in emotions, motivation, behavior, and various autonomic functions.