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18 Aug 2020
When is a market classified as monopolistically competitive?
a) A small number of firms compete.
b) There is a barrier that blocks entry by other firms.
c) Many firms produce the same product.
d) Many firms produce a slightly differentiated product.
e) There is one firm that sells a good or service with no close substitutes.
When is a market classified as monopolistically competitive?
a) A small number of firms compete.
b) There is a barrier that blocks entry by other firms.
c) Many firms produce the same product.
d) Many firms produce a slightly differentiated product.
e) There is one firm that sells a good or service with no close substitutes.
b) There is a barrier that blocks entry by other firms.
c) Many firms produce the same product.
d) Many firms produce a slightly differentiated product.
e) There is one firm that sells a good or service with no close substitutes.
Vaishnavi KanukurtiLv10
18 Oct 2020
