One of the Ways in Which Monopolistic Competitors Differ from Perfect

question 53

Multiple Choice

One of the ways in which monopolistic competitors differ from perfect competitors is that

• A)perfect competitors produce the quantity of output at which marginal revenue equals marginal cost and monopolistic competitors do not.
• B)perfect competitors produce a homogeneous product and monopolistic competitors do not.
• C)there is easy entry and exit for a perfect competitor, but not for a monopolistic competitor.
• D)there are high barriers to entry and exit for a perfect competitor, but not for a monopolistic competitor.

---

Definitions:

Satisfier Factors

Elements related to the nature of the job itself, such as achievement, recognition, and work itself, that lead to job satisfaction.

Two-Factor Theory

A psychological theory proposed by Frederick Herzberg that suggests job satisfaction and dissatisfaction arise from two different sets of factors: motivators and hygiene factors.

Job Dissatisfaction

The feeling of unhappiness or discontentment with one's job, often resulting from issues like inadequate pay, poor working conditions, or lack of recognition.

Interpersonal Relations

The interactions and relationships between two or more people, often in a work or social context.