Examlex
Which of the following is an incorrect pairing?
Negative Externalities
Unintended adverse effects on third parties not involved in an economic transaction, like pollution.
Monopolistic Competition
A market structure in which there are many competing producers in an industry, each producer sells a differentiated product, and there is free entry and exit into and from the industry in the long run.
Barriers To Entry
Factors that prevent or hinder new competitors from easily entering an industry or area of business.
Product Differentiation
The attempt by firms to convince buyers that their products are different from those of other firms in the industry. If firms can so convince buyers, they can charge a higher price.
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