Which of the Following Statements Is Not Correct

question 585

Multiple Choice

Which of the following statements is not correct?

• A)Monopolistic competition is similar to monopoly because in each market structure the firm can charge a price above marginal costs.
• B)Monopolistic competition is similar to perfect competition because both market structures are characterized by free entry.
• C)Monopolistic competition is similar to oligopoly because both market structures are characterized by barriers to entry.
• D)Monopolistic competition is similar to perfect competition because both market structures are characterized by many sellers.

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Definitions:

Identification Line

A line at the bottom of a letter containing the letter writer’s initials and the typist’s initials.

Typist's Initials

The initials used by a typist as a form of identifying or signing off on documents they have prepared or worked on.

Inside Address

The name and address of the person to whom the letter is being sent. It appears on a business letter two to four spaces down from the date. It should be two, three, or four lines in length.

Business Letter

A formal document used for communication between companies, or between a company and an individual, characterized by a structured layout and professional tone.