The Main Characteristic That Distinguishes Monopolistic Competition from Perfect Competition

question 212

Multiple Choice

The main characteristic that distinguishes monopolistic competition from perfect competition is:

• A)easy entry and exit.
• B)many firms.
• C)differentiated products.
• D)that in perfect competition,to maximize profits,a firm will produce where MR = MC.

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Definitions:

Composing The Message

The process of creating and structuring written or verbal communication to effectively convey information or intent to the recipient.

Sending The Message

The process of conveying information, intentions, or instructions to others through various forms of communication.

Business Communication

The exchange of information and ideas between individuals or groups within a commercial context, using various modes and channels to achieve specific organizational goals.

Communication Networks

Systems of interconnected devices or nodes that enable the exchange of data and information.