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Julli [10]
3 years ago
8

Which of the following is a characteristic of monopolistic competition? rev: 05_15_2018 Multiple Choice relatively easy entry a

relatively small number of firms standardized product absence of nonprice competition
Business
1 answer:
CaHeK987 [17]3 years ago
6 0

Answer:

The correct answer is relatively easy entry.

Explanation:

Monopolistic competition is a market structure in which there are a large number of firms, the entry into the market is relatively easier than monopoly. These firms produce differentiated products which are close substitutes.  

The firm is a price maker and faces a downward-sloping demand curve. Unlike oligopoly decision of a firm does not affect its competitors. Though these firms do not show productive or allocative efficiency. They have excess capacity in the long run.

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Particulars                                          Debit              Credit

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