Multiple Choice
If there are 40 firms in a monopolistic competitive industry, the oldest (or first) firm will have ___________ market share to qualify as the oldest (or first) firm.
A) no less than 50 percent
B) no less than 10 percent
C) no more than 5 percent
D) no more than 1 percent
E) there is no specific percentage
Correct Answer:
Verified
Correct Answer:
Verified
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