A monopolistically competitive industry is characterized byO a few firms selling products that are similar but not identical.O many firms selling products that are similar but not identical.O a few firms selling highly different products.O many firms selling identical products.

Market refers to a place where goods & services are bought & sold. Here the goods are sold…

Answered: ly competitive industry is characterize…

ly competitive industry is characterize ing products that are similar but not identi ing products that are similar but not identic

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

A monopolistically competitive industry is characterized by
O a few firms selling products that are similar but not identical.
O many firms selling products that are similar but not identical.
O a few firms selling highly different products.
O many firms selling identical products.

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