Which One of the Following Statements Describes a Market That

question 68

Multiple Choice

Which one of the following statements describes a market that is monopolistically competitive?

• A)There are significant barriers to entry.
• B)The products produced by the firms are identical.
• C)Many firms compete by making similar but slightly different products.
• D)There is a small number of large firms.
• E)The product produced by one firm has no close substitutes.

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Definitions:

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The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.

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