Monopolistic Competition Exists When

question 55

Multiple Choice

Monopolistic competition exists when:

• A)there are very few businesses selling a product
• B)many small businesses selling one standardized product are present in the market.
• C)there is only one producer of a product in a given market.
• D)individual businesses have control over their products' price.
• E)there is slowdown of the economy characterized by a decline in spending.

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