Which of the Following Is Not a Characteristic of Monopolistic

question 121

Multiple Choice

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

• A)Firms are price takers.
• B)There are many buyers and sellers.
• C)Barriers to entry are low.
• D)Firms sell similar, but not identical, products.

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Definitions:

Committee

A group of individuals appointed to perform a specific task or to deliberate on a particular issue, often within a larger organization or assembly.

B2B

Business-to-Business, referring to transactions or strategies between two or more businesses rather than between businesses and individual consumers.

Buying Decisions

The process by which individuals or organizations choose whether to purchase, what to purchase, and from whom to purchase, based on factors like needs, preferences, and financial resources.

Committees

Committees are groups of individuals brought together to make decisions or advise on specific matters within an organization, often with a specific focus or expertise.