Which of the following is not a characteristic of monopolistic competition?
A) a downward-sloping demand curve
B) differentiated products
C) standardized products
D) excess capacity

Question

Quizplus · Accepted Answer

Monopolistic competition is characterized by differentiated products, a downward-sloping demand curve, and excess capacity. However, standardized products are not a characteristic of monopolistic competition. Standardized products are a characteristic of pure competition, where all firms sell identical products.

Which of the Following Is Not a Characteristic of Monopolistic