Which of the following is not a characteristic of the monopolistic competition market structure?
a. Many sellers, each small in size relative to the overall market.
b. Few sellers.
c. Differentiated product.
d. Easy, low-cost entry and exit.
b
You might also like to view...
When a government has a large budget deficit, it must issue government bonds to finance the deficit. Explain if it matters for the rate of inflation if the government sells the bonds to the public or sells the bonds to the central bank?
What will be an ideal response?
Which of the following is the closest example of structural unemployment?
a. An accountant quitting her job to become an investment banker b. An auto worker being fired for poor job performance c. Workers in a firm manufacturing films for roll film cameras losing jobs due to the popularity of digital cameras d. A consultant being laid off because poor economic conditions have depressed the market for consultants e. A college graduate seeking his/her first job in the IT industry