The Monopolistic Competition Market Structure Is Characterized By

question 23

Multiple Choice

The monopolistic competition market structure is characterized by:

• A) few firms and similar products.
• B) many firms and differentiated products.
• C) many firms and a homogeneous product.
• D) few firms and a homogeneous product.

---

Definitions:

Systematic Evaluation

An organized method for assessing the procedures, outcomes, and effectiveness of a program or system, employing specific criteria and standards.

Decision Groups

Assemblies of individuals who come together to make choices or solve problems through collective deliberation and discussion.

External Leader

A leadership figure who comes from outside the organization or group they are leading.

Self-Managed Team

A group of employees who are given the autonomy to plan, execute, and monitor their work, often with little direct supervision.