In a monopolistically competitive market,
A)there are only a few sellers.
B)each firm takes the price of its product as given.
C)firms can enter or exit the market without restrictions.
D)each firm produces a product that is essentially identical to the products of other firms in the market.

Question

Quizplus · Accepted Answer

In a monopolistically competitive market, firms can enter or exit the market without restrictions, which differentiates it from a monopoly or oligopoly.

In a Monopolistically Competitive Market