If We Are to Discuss Why the Term "Monopolistic Competition

question 8

Multiple Choice

If we are to discuss why the term "monopolistic competition" is used,the best description would be that the industry is "monopolistic" because it:

• A) has high barriers to entry but is "competitive" because it has many firms.
• B) has low barriers to entry but is "competitive" because it has few firms.
• C) has product differentiation but is "competitive" because it has many firms.
• D) has a monopoly but is "competitive" because there are low barriers to entry, meaning it has potential rivals.
• E) holds patents but is "competitive" because other firms might invent similar patentable products.

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Photo App

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A system or framework designed to provide incentives or rewards based on certain behaviors or achievements.

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