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Which of the Following Is True of a Typical Firm

Question 107

Multiple Choice

Which of the following is true of a typical firm in a monopolistically competitive industry?


A) Product differentiation allows a successful firm to emerge as a market leader in the industry.
B) All firms have identical cost structures.
C) The more successful firms have an incentive to merge in order to exert greater market power.
D) Each firm acts independently.

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