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Which of the following is not a characteristic of monopolistic competition?
Net Income
The amount of profit left after all operating expenses, taxes, and other costs have been subtracted from total revenue.
Variable Costs
Financial outlays that adjust based on the level of a firm's activity.
Selling Price
The amount a customer pays to purchase a product or service.
Fixed Costs
Fixed costs are business expenses that remain constant regardless of the level of production or sales, such as rent, salaries, and insurance premiums.
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