Multiple Choice
A monopolistically competitive industry,such as corn snack chips,and a perfectly competitive industry,like wheat farming,are alike in that:
A) firms in both types of industries produce identical products.
B) firms in both types of industries produce similar but not identical products.
C) barriers to entry in both industries are large.
D) there are many firms in each industry.
Correct Answer:
Verified
Correct Answer:
Verified
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