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EastWind [94]
2 years ago
5

A monopolistically competitive industry is like a purely competitive industry in that.

Social Studies
1 answer:
Ksju [112]2 years ago
3 0

The similarity between a monopolistically competitive and purely competitive industry is neither industry has significant barriers to entry.

<h3>What is Monopolistic competition?</h3>

A monopolistic competition is the one that offer similar but substitute products whereas individual firms make their decision.

For a Monopolistic competition, barriers to entry are low same with purely competive industry.

Hence, the similarity between a monopolistically competitive and purely competitive industry is neither industry has significant barriers to entry.

Learn more about monopolistic competitive industry here : brainly.com/question/13113415

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<u>Complete Question:</u>

Read the paragraph.

With car crashes being the leading cause of death among teenagers, many are in favor of raising the legal driving age to eighteen. According to the National Highway Safety Administration, the rate of crashes, both fatal and nonfatal, for sixteen-year-old drivers is almost ten times the rate as that of drivers aged thirty to fifty-nine, as calculated per mile driven. No one disputes the idea that raising the legal driving age will create issues and difficulties for many; however, these issues pale in comparison with the issue of safety. "The bottom line is that when we look at the research, raising the driving age saves lives," states Adrian Lund, president of the Insurance Institute for Highway Safety, a research group funded by the auto insurance industry. To date, New Jersey is the only state to raise the legal driving age to seventeen, and various studies have shown that the overall rate of teen fatalities linked to automobile accidents has been consistently lower compared to that of nearby states.

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Some people believe that raising the legal driving age to eighteen in the United States would cause a wealth of problems for society, but the benefits of doing so far outweigh the potential inconveniences.

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