In Both Monopolistically Competitive and Perfectly Competitive Industries

question 218

Multiple Choice

In both monopolistically competitive and perfectly competitive industries

• A)firms produce products for which there are no close substitutes.
• B)there are high barriers to entry.
• C)there are many buyers and sellers.
• D)firms are price takers.

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Definitions:

Directing

Motivating and leading employees to achieve organizational objectives.

Managers

Individuals in an organization responsible for directing and overseeing the work of others.

Activities

Activities are tasks, operations, or processes carried out by individuals or groups in the pursuit of their objectives or interests.