Monopolistic Competition Is an Industry Structure Characterized By

question 214

Multiple Choice

Monopolistic competition is an industry structure characterized by:

• A)a product with no close substitutes.
• B)a horizontal demand curve.
• C)a large number of firms.
• D)barriers to entry and exit.

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Definitions:

Endorphins

Endorphins are peptides produced by the central nervous system and the pituitary gland, known for their ability to reduce pain and boost happiness.

Antidepressant Drugs

Drugs used to treat depression, anxiety disorders, obsessive-compulsive disorder, and posttraumatic stress disorder. (Several widely used antidepressant drugs are selective serotonin reuptake inhibitors—SSRIs.)

Antipsychotic Drugs

Drugs used to treat schizophrenia and other forms of severe thought disorder.

Auditory Hallucinations

A condition where a person hears sounds or voices that do not exist outside their mind.