The primary difference between monopolistic competition and perfect competition is:
A) the ease of entry and exit into the industry.
B) the number of firms in the market.
C) Both the ease of entry and exit into the industry and the number of firms in the market are correct.
D) None of the answers is correct.
Correct Answer:
Verified
Q12: You are the manager of a firm
Q13: You are the manager of a firm
Q20: Which of the following is true?
A) A
Q21: There is no market supply curve in:
A)
Q25: Firms have market power in:
A) perfectly competitive
Q26: If a monopolistically competitive firm's marginal cost
Q29: Which of the following is an example
Q30: Differentiated goods are a feature of a:
A)
Q31: Suppose that initially the price is $50
Q38: In the long run,monopolistically competitive firms:
A) charge
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