Which of the Following Is Not a Characteristic of a Monopolistically

question 17

Multiple Choice

Which of the following is not a characteristic of a monopolistically competitive market structure?

• A)There is a large number of independently acting small sellers.
• B)All sellers sell products that are differentiated.
• C)There are low barriers to entry of new firms.
• D)Each firm must react to actions of other firms.

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Definitions:

Referent Power

A form of influence derived from the attractiveness and charisma of the leader, which encourages others to follow.

Desire

A strong feeling of wanting to have something or wishing for something to happen.

Manager

An individual responsible for controlling or administering all or part of a company or similar organization.

Reward Power

The capacity to offer something of value as a means to influence the behavior of others.