Multiple Choice
What is the main difference between a perfectly competitive industry and a monopolistically competitive firm?
A) the number of firms in the market
B) product differentiation
C) zero economic profit
D) no barriers to entry
Correct Answer:

Verified
Correct Answer:
Verified
Q38: Firms that expect their products to be
Q39: Products can be differentiated along any dimension
Q40: Monopolistically competitive firms create:<br>A) zero deadweight loss.<br>B)
Q41: If a monopolistically competitive firm raises prices,
Q42: Informative advertising:<br>A) degrades the competitive process by
Q44: Which of the following is the best
Q45: Advertising can help finance many useful goods
Q46: Monopolistic competition in a market is characterized
Q47: A monopolistic competitive firm is able to
Q48: Bottled water is produced in a _