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.

---

Definitions:

Creativity

The use of imagination or original ideas to create something; inventiveness in thinking or problem-solving.

Commercially Extinct

Refers to a status where a species of fish or other marine population can no longer sustain a commercial fishery, due to overfishing or other environmental factors.

Over-fishing

The practice of catching fish at a rate faster than they can reproduce, leading to a decline in fish populations.

Fish Population

Refers to the number of fish within a specific ecosystem or area, often considered in terms of species diversity and biomass.