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:

Internet Business Model

A strategy outlining how an organization will create value and make money through the use of the internet.

Emerging Technologies

New, innovative technologies that are currently developing or will be developed over the next few years, and which are expected to significantly alter the business and social environment.

Product Quality

Refers to the degree to which a product or service meets or exceeds customer expectations.

Special Features

Unique or distinguishing attributes or aspects of a product, service, or entity that provide additional value.