Which of the Following Is NOT a Characteristic of the Market

question 94

Multiple Choice

Which of the following is NOT a characteristic of the market structure for monopolistic competition?

• A) Firms are price takers.
• B) There are a large number of firms.
• C) Firms are free to enter and exit.
• D) Firms compete on product quality, price and marketing.

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Definitions:

Compressed Workweek

A work schedule that allows an employee to work a full-time job in fewer than the conventional five days.

Flexibility

The ability to adapt to new, changing, or challenging circumstances, often valued in both personal and professional contexts.

Reduces

To diminish in size, amount, extent, or degree, often in reference to making something less severe or complex.

Days Per Week

A measure of time used to specify the number of days something occurs within a seven-day period.