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Grade:

                        

A monopolistically competitive market is characterized by all of the following EXCEPT ___________. A easy entry B differentiated products C excess capacity D economic profit in the long run

2 months ago

Answers : (2)

Vikas TU
13784 Points
							
Dear student 
Monopolistic competition characterizes an industry in which many firms offer products or services that are similar, but not perfect substitutes.
Monopolistic competition is the one in which there are large number of producers selling dissimilar products. There is also no entry barriers for the new firms. Hence, a monopolistically competitive market is characterized by all of the following except economic profit in the long run.
2 months ago
ankit singh
askIITians Faculty
596 Points
							
ANSWER
Monopolistic competition is the one in which there are large number of producers selling dissimilar products. There is also no entry barriers for the new firms. Hence, a monopolistically competitive market is characterized by all of the following except economic profit in the long run.
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2 months ago
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