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:

Accounting Transaction

A financial event that changes the balance of two or more accounts in the ledger.

Accounting Time Period

A specific duration of time for which financial statements are prepared, typically a quarter or a year.

Depreciation Expense

A rephrased definition: The charge to income, representing the allocation of the cost of an asset over its useful life during a specific period.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset since it was acquired.