All of the following are characteristics of monopolistic competition EXCEPT
A) a few firms dominate the industry.
B) product differentiation.
C) many firms in the industry.
D) advertising.
Answer: A
Economics
You might also like to view...
Kelly's marginal utilities for magazines and packages of gummy bears are listed in the table above. For Kelly, what is the total utility received from consuming 5 magazines?
A) 5 B) 20 C) 25 D) 255
Economics
If a person is risk neutral, then she
A) is indifferent about playing a fair game. B) will pay a premium to avoid a fair game. C) has a horizontal utility function. D) has zero marginal utility of wealth.
Economics