Multiple Choice
In a monopolistically competitive market, having a large number of firms in the market means that
A) no firm attempts to take into account the reaction of rival firms.
B) individual firms will have a large portion of the market giving them monopoly power.
C) firms will get together and collude because this will be the only way to earn monopoly profits.
D) firms will cooperate with each other to drive competitors out of the market.
Correct Answer:
Verified
Correct Answer:
Verified
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