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:

Refuge

A place of safety or sanctuary, offering protection from danger or distress.

Northern Plains

A vast geographic region in the United States, lying east of the Rocky Mountains and consisting of open land, used primarily for farming and ranching; includes parts of several states such as Montana, North Dakota, and South Dakota.

Firearms

Devices designed to launch one or more projectiles driven by rapidly expanding high-pressure gas produced chemically by exothermic combustion of propellant within an ammunition cartridge.

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Widespread occurrences of infectious diseases in a community at a particular time.