Multiple Choice
Which statement is TRUE?
A) Monopolistic competition and perfect competition are both inefficient.
B) Monopolistic competition is efficient because of product differentiation.
C) The inefficiency of monopolistic competition is arguably a small price to pay for a wide range of product choices it offers.
D) The inefficiency of monopolistic competition is a result of advertising expenses.
Correct Answer:
Verified
Correct Answer:
Verified
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