Consider the monopolistically competitive market structure, which has some features of a competitive market and some features of

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2 years ago

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Consider the monopolistically competitive market structure, which has some features of a competitive market and some features of

a monopoly. Complete the following table by indicating if each attribute characterizes a competitive market, a monopolistically competitive market, both, or neither. Check all that apply.

Business

1 answer:

Nikolay [14] · Answer 1 · 2023-03-07T20:53:05+03:00

The characteristics of a competitive market, and a monopolistically competitive market are:

Price is equal to marginal cost - competitive market,
Easy entry and exit - both
Few sellers - neither
Homogeneous product - competitive market,

<h3>How are competitive and monopolistically competitive markets related?</h3>

Both competitive and monopolistically competitive markets are easy to enter and exit from but only competitive markets have their pruice equal to their marginal cost.

The goods in a monopolistically competitive market is slightly variated while those in competive markets are homogenous.

Find out more on monopolistically competitive markets at brainly.com/question/25717627

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