If One Were to Discuss Why the Term "Monopolistic Competition

question 138

Multiple Choice

If one were to discuss why the term "monopolistic competition" is used,the best description would be that the industry is "monopolistic" because it

• A) has high barriers to entry,but is "competitive" because it has many firms.
• B) has low barriers to entry,but is "competitive" because it has few firms.
• C) has product differentiation,but is "competitive" because it has many firms.
• D) has a monopoly,but is "competitive" because there are low barriers to entry,meaning it has potential rivals.
• E) holds patents,but is "competitive" because other firms might invent similar patentable products.

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Definitions:

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Deforestation

The large-scale removal of forest or tree cover, often due to agricultural expansion, logging, or mining, leading to significant environmental and ecological disruption.

Silent Spring

A landmark environmental science book published in 1962 by Rachel Carson, credited with advancing the global environmental movement.