Which of the Following Is NOT a Characteristic of Monopolistic

question 134

Multiple Choice

Which of the following is NOT a characteristic of monopolistic competition?

• A) There is easy entry and exit.
• B) Firms may make an economic profit in the short run.
• C) There is product differentiation in the market.
• D) Firms set the price of their product equal to their marginal cost.

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Definitions:

Americans with Disabilities Act

A civil rights law that prohibits discrimination against individuals with disabilities in all areas of public life, including jobs, schools, transportation, and all public and private places that are open to the general public.

Civil Rights Act

A significant law in the United States that prohibits discrimination due to one's race, color, religious beliefs, gender, or country of origin.

Bona Fide Occupational Qualification

An employment qualification that an employer must prove is necessary for the operation of a particular job and is therefore not considered discrimination.

Customer Preference

The inclinations or choices of consumers regarding products, services, or companies, often influenced by personal taste, quality, and price.