Multiple Choice
Which of the following statements is not correct?
A) Monopolistic competition is similar to monopoly because in each market structure the firm can charge a price above marginal costs.
B) Monopolistic competition is similar to perfect competition because both market structures are characterized by free entry.
C) Monopolistic competition is similar to oligopoly because both market structures are characterized by barriers to entry.
D) Monopolistic competition is similar to perfect competition because both market structures are characterized by many sellers.
Correct Answer:
Verified
Correct Answer:
Verified
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