A Monopolistically Competitive Market Differs from a Perfectly Competitive Market

question 30

Multiple Choice

A monopolistically competitive market differs from a perfectly competitive market in that a monopolistically competitive market has

• A)more sellers.
• B)products that are identical.
• C)less sticky prices.
• D)firms that are price setters.

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Definitions:

Only Child

A child who has no siblings and is the solitary offspring of their parents.

Share

To have or use something jointly with others, or to divide and distribute.

Compete

To take part in a contest or rivalry, striving to win or achieve something by surpassing others.

Conscious

Pertaining to the awareness of one's own existence, sensations, thoughts, surroundings, and the ability to perceive external stimuli.