Which of the Following Is a Characteristic of a Monopolistically

question 31

Multiple Choice

Which of the following is a characteristic of a monopolistically competitive market? I. Each firm is a price-taker.
II) Firms sell slightly differentiated products.
III) Each firm faces a downward-sloping demand curve.

• A) I only
• B) I and II only
• C) II and III only
• D) I, II, and III

---

Definitions:

Fallacy

An incorrect reasoning that initially seems accurate.

Snob Appeal

A marketing or persuasion technique that targets people's desire for prestige or status, suggesting that using a product or service will elevate their social standing.

Ad Hominem

A fallacy in argumentation where the focus is on attacking the character of the person making an argument rather than addressing the argument itself.

SWOT Model

Used to analyze a company’s strengths, weaknesses, external opportunities, and threats.