Multiple Choice
Which of the following is (are) true?
A) One can criticize monopolistic competition because it falls short of the efficiency standards of perfect competition.
B) Monopolistic competition is inefficient because of product differentiation.
C) According to the text, the inefficiency of monopolistic competition may be a small price to pay for the wide range of product choices it offers.
D) All of the above are true.
Correct Answer:
Verified
Correct Answer:
Verified
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