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Please answer the 3 following questions:

QUESTION 3 Which of the following is NOT a characteristic of firms in a monopolistically competitive market? O advertising di

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3. Option 3. Existence of significant economics of scale

Explanation: In monopolistic competition, firms under utilize their capacity and they do not achieve economies of scale.

4. Option 3. Positive

Explanation: The firm is most likely to be a monopoly and will have a positive economic profit in the long-ru.

5. Option 1. Mass marketing

Explanation: In mass marketing, the target is to reach as many people as possible.

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