Which of the Following Is NOT a Characteristic of Monopolistic

question 69

Multiple Choice

Which of the following is NOT a characteristic of monopolistic competition?

• A) No barriers to entry or exit
• B) Small market share
• C) Few firms compete
• D) Easy entry and exit
• E) Differentiated product

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Definitions:

Owner Withdrawal

The amount of money or assets that the owner takes from the business for personal use.

Utilities Expense

The cost incurred by a business or household for essential services such as electricity, water, and gas.

Utility Bill

A periodic invoice received by consumers for usage of utilities such as electricity, water, natural gas, or sewage services.

Accounts Payable

Accounts Payable are obligations a company has to pay off to its creditors or suppliers within a short period, typically one year or less.