How Does Monopolistic Competition Differ from Perfect Competition

question 108

Multiple Choice

How does monopolistic competition differ from perfect competition?

• A) There are more sellers in a market characterized by monopolistic competition.
• B) It is easier for sellers to enter a market or industry characterized by monopolistic competition.
• C) In a perfectly competitive market, products are more dissimilar.
• D) In a market characterized by monopolistic competition, individual firms have some control over price.
• E) In a perfectly competitive market, the size of the firms must be large.

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Definitions:

Biogeographer

A scientist who studies the distribution of species and ecosystems in geographic space and through geological time.

Continental Drift

The theory that continents move across the Earth's surface over geologic time, leading to the formation and separation of land masses.

Tectonic Plates

Massive, irregularly shaped slabs of solid rock that make up Earth's lithosphere, moving and interacting at their boundaries.

Transitional Links

Evidence of evolution, typically fossils, that bear a resemblance to two groups that in the present day are classified separately.