A Market Is Classified as Monopolistically Competitive When

question 112

Multiple Choice

A market is classified as monopolistically competitive when

• A) there is a barrier that blocks entry by other firms.
• B) a small number of firms compete.
• C) many firms produce the same product.
• D) many firms produce a slightly differentiated product.
• E) there is one firm that sells a good or service with no close substitutes.

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