A Monopolistically Competitive Market

question 43

Multiple Choice

A monopolistically competitive market

• A) has some features of monopoly and some features of competition.
• B) has one large, dominant firm and many other smaller firms.
• C) is difficult to enter.
• D) occurs whenever firms earn zero economic profit.

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Definitions:

Pseudostratified Epithelium

A type of epithelial tissue that appears to be stratified but is actually a single layer of cells with varying nuclei heights, found in the respiratory tract.

Smooth Muscle

A type of muscle found in the walls of internal organs such as the stomach, intestines, and blood vessels, which contracts involuntarily.