24) Which of the following is not a characteristic of a monopolistically competitive market? a) Long-run...
24) Which of the following is not a characteristic of a monopolistically competitive market?
a) Long-run profits likely to be positive. b) Differentiated products. c) No barriers to entry. d) Many sellers.
Homework Answers
Monopolistic competition is a type of market where -
1.there are large number of buyers and sellers in the marke
2. products are slightly differentiated in terms of Shape ,size ,colour etc .
3.There are no barriers to entry and exit
4.Long term economic profit is zero
answer is option A
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24) Which of the following is not a characteristic of a
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