Multiple Choice
Which of the following is not true of monopolistic competition?
A) There are a large number of buyers and sellers.
B) The firms produce differentiated products.
C) There exists free entry and exit of firms.
D) Each of the firms faces a horizontal demand curve.
E) Each of the firms act as a minimonopoly in the market.
Correct Answer:
Verified
Correct Answer:
Verified
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