Which of the Following Is Characteristic of Monopolistically Competitive Industries

question 37

Multiple Choice

Which of the following is characteristic of monopolistically competitive industries?

• A) Product differentiation.
• B) A substantial likelihood of collusion.
• C) Relatively small market shares of each producer.
• D) Both (a) and (c) are characteristics of monopolistically competitive industries.

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Definitions:

Zygmunt Bauman

A sociologist known for his analyses of modernity, postmodernity, and the societal impacts of globalization, consumerism, and ethics.

Eastern

Referring to the regions, cultures, or characteristics of the East, often in context of geography, like Asia, or in comparison to the Western world.

Western

Pertaining to or characteristic of the cultures, institutions, and thought originating from or associated with Europe and North America.

Anthony Giddens

A British sociologist who developed the theory of structuration and wrote extensively on contemporary society, modernity, and globalization.