Because There Are Many Firms in Monopolistic Competition Markets

question 54

Multiple Choice

Because there are many firms in monopolistic competition markets,

• A)everyone is a price taker.
• B)producers do not have to consider the reactions of rival firms.
• C)government often encourages consolidation to reduce the number of competitors.
• D)price controls may be implemented.
• E)the many competitors will focus on product differentiation.

---

Definitions:

Resistance To Organizational Change

The opposition or pushback by employees or stakeholders when an organization attempts to make significant changes to its structure or processes.

Planned And Emergent Approaches

Strategies that involve deliberate planning and those that evolve in response to unexpected opportunities and challenges.

Shared Sense Of Purpose

A common understanding and commitment among members of a group or organization towards achieving a common goal.

Force-Field Analysis

A method developed by Kurt Lewin to analyze the factors that support or hinder a particular situation or change initiative.