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Which of the following is not a characteristic of monopolistic competition?
Production
The process of creating goods and services from various inputs like raw materials and labor.
Purchasing
The process of obtaining goods or services, usually for business purposes.
Cost Drivers
Factors that cause a change in the cost of an activity, impacting the economic amount associated with production or delivery of a service.
Variable Costs
Costs that vary in direct proportion to changes in production or sales volumes, such as raw materials and direct labor.
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