Which of the Following Are Attributes of a Monopolistic Competitive

question 98

Multiple Choice

Which of the following are attributes of a monopolistic competitive market?
(i) many firms competing for the same group of sellers
(ii) each firm produces a product that is slightly different from the other firms
(iii) in the long run, entry into the industry is restricted

• A)(i) only
• B)(i) and (ii) only
• C)(ii) and (ii) only
• D)(i), (ii), and (iii)

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Definitions:

Account Receivable

is money owed to a business by its customers for goods or services provided on credit.

Credit Evaluation

The assessment of the creditworthiness of a loan applicant or borrower.

Conditions

Specific requirements, terms, or circumstances that define how something is to be done or what must happen.

Cessation

The act of stopping or discontinuing a process, operation, or activity.