What Is a Major Difference Between Monopolistic Competition and Perfect

question 150

Multiple Choice

What is a major difference between monopolistic competition and perfect competition?

• A)The number of sellers in the markets.
• B)The degree by which the market demand curves slope downwards.
• C)That products are not standardised in monopolistic competition, unlike in perfect competition.
• D)The barriers to entry in the two markets.

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Definitions:

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The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, clearing the market.

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