Which of the following is not a distinguishing characteristic of the four market models?
A) Number of sellers.
B) Product type: differentiated or identical.
C) The use of advance production methods.
D) Entry and exit.

Question

Quizplus · Accepted Answer

The use of advanced production methods is not a distinguishing characteristic of the four market models (perfect competition, monopolistic competition, oligopoly, and monopoly). The main distinguishing characteristics include the number of sellers, the type of products (differentiated or identical), and the ease of entry and exit from the market.

Which of the Following Is Not a Distinguishing Characteristic of the Four