Which of the Following Is Not a Characteristic of a Monopolistically

question 33

Multiple Choice

Which of the following is not a characteristic of a monopolistically competitive market?

• A) Free entry and exit
• B) Long-run economic profits
• C) Many sellers
• D) Differentiated products

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Definitions:

Preparedness

A predisposition to quickly learn certain types of behaviors or to associate specific stimuli with certain responses due to evolutionary pressures.

Shaping

A method of training by which successive approximations toward a desired behavior are reinforced to teach a complex behavior.

Stimulus Discrimination

The learned ability to differentiate between similar stimuli and respond only to the actual signal but not to similar stimuli.

Approximations

Incremental steps or behaviors that progressively resemble the target behavior or outcome, used in learning and conditioning.