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    Microeconomics Study Set 25
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    Exam 15: Monopolistic Competition and Product Differentiation
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    An Industry with a Large Number of Relatively Small Firms
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An Industry with a Large Number of Relatively Small Firms

Question 205

Question 205

Multiple Choice

An industry with a large number of relatively small firms producing differentiated products in a market with easy entry and exit of firms is:


A) a monopoly.
B) a duopoly.
C) an oligopoly.
D) monopolistically competitive.

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