Which Characteristic Is NOT Indicative of Monopolistic Competition

question 177

Multiple Choice

Which characteristic is NOT indicative of monopolistic competition?

• A)product differentiation
• B)a lack of barriers to entry and exit in the long run
• C)many competing producers
• D)tacit collusion

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Definitions:

Formal Authority

The power or right to give orders, make decisions, and enforce obedience, typically within an organizational hierarchy.

Influence

The capacity to have an effect on the character, development, or behavior of someone or something.

Coercive Power

The ability of a person to compel or force someone else to act in a certain way through threats, punishment, or control measures.

Withhold Positive Outcomes

The act of not presenting or delaying favorable results or benefits.