How Does Monopolistic Competition Differ from Perfect Competition

question 108

Multiple Choice

How does monopolistic competition differ from perfect competition?

• A) There are more sellers in a market characterized by monopolistic competition.
• B) It is easier for sellers to enter a market or industry characterized by monopolistic competition.
• C) In a perfectly competitive market, products are more dissimilar.
• D) In a market characterized by monopolistic competition, individual firms have some control over price.
• E) In a perfectly competitive market, the size of the firms must be large.

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Definitions:

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Marasmus

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Kwashiorkor

A malnutrition disease in children caused by deprivation of protein and calories and characterized by lethargy, bloating, and swelling of the stomach.