Monopolistic competition differs from ________
A. monopoly because firms cannot set their own price
B. oligopoly because firms produce differentiated goods or services
C. perfect competition because the goods or services produced are diffe-rentiated
D. monopoly because the good produced by each firm has no close subs-titute
C Answer C describes the key difference between perfect com-petition and monopolistic competition.
Economics
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Using the above figure, the perfectly competitive firm should shut down if the market price is below
A) P1. B) P2. C) P3. D) P4.
Economics
According to recent public opinion polls, what percentage of Americans are satisfied with the quality of the medical care they receive?
a. 15 percent. b. 40 percent. c. 65 percent. d. 70 percent. e. 90 percent.
Economics