Which of the following is a characteristic of monopolistic competition?
a. few firms
b. homogenous products
c. easy entry and exit
d. strategic dependence
Which of the following is not a characteristic of monopolistic competition?
a. large number of sellers
b. differentiated products
c. advertising
d. barriers to entry
Monopolistic Competition
A monopolistic competition market is a type of market. It is neither a monopoly nor a perfectly competitive market. However, it shares features with these two distinct forms of market.