In Monopolistic Competition There

question 165

Multiple Choice

In monopolistic competition there

• A) are many firms and many buyers.
• B) are several large firms.
• C) is one large firm.
• D) might be many, several, or one firm.
• E) are many firms but only a few buyers.

---

Definitions:

Uniform Distribution

A statistical distribution where all outcomes are equally likely over a specified range.

Random Variable

A numeric variable influenced by the randomness of certain phenomena.

Probability

A measure of the likelihood that a particular event will occur, often expressed as a number between 0 and 1.

Uniform Distribution

A distribution of probabilities where each possible outcome is equally probable.