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Other Fields Homework Help Economics Topic started by: barmour44 on Oct 9, 2019



Title: In monopolistic competition there is/are
Post by: barmour44 on Oct 9, 2019

Question 1.

All of the following characteristics are common to both monopolistic competition and perfect competition except

▸ entry barriers into the industries are low.

▸ firms take market prices as given.

▸ the market demand curves are downward-sloping.

▸ firms act to maximize profit.

Question 2.

In monopolistic competition there is/are



a few sellers who each face a downward-sloping demand curve.



only one seller who faces a downward-sloping demand curve.



many sellers who each face a downward-sloping demand curve.



many sellers who each face a perfectly elastic demand curve.



Title: In monopolistic competition there is/are
Post by: johnsyke on Oct 9, 2019
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